Bryn Talkington

Memory and semiconductor stocks like Micron and the DRAM ETF are holding support at the 200-day moving average, with the trade intact; upcoming SK Hynix ADR debut will be a huge catalyst for retail and hedge funds.

The earnings composition of the S&P and Nasdaq has changed: NVIDIA, Broadcom, and Micron are top-ten index holdings, and their monster earnings can keep pushing index-level profit growth higher, making Yardeni's 8400 target plausible.

Ahead of NVIDIA earnings, consensus revenue growth is re-accelerating to 96%, earnings growth is 114%, free cash flow should reach $47 billion, and next-quarter guidance could hit $100 billion, so the market is getting in front of a strong quarter and working back toward the 236 May high, though post-earnings caution is warranted.

Memory and semiconductor stocks like Micron and the DRAM ETF are holding support at the 200-day moving average, with the trade intact; upcoming SK Hynix ADR debut will be a huge catalyst for retail and hedge funds.

Software stocks (IGV) have built a technical base with higher lows, suggesting a rebuild is beginning, which will benefit cyber names, Palantir, and Microsoft.

Software stocks (IGV) have built a technical base with higher lows, suggesting a rebuild is beginning, which will benefit cyber names, Palantir, and Microsoft.

Software stocks (IGV) have built a technical base with higher lows, suggesting a rebuild is beginning, which will benefit cyber names, Palantir, and Microsoft.

The Nasdaq-100 (QQQ) is up 15% year-to-date, outperforming the Magnificent Seven stocks, because the index has growing weight in memory and semiconductor names like Micron, AMD, and Intel that are doing well; passive investors who simply bought the index have done very well, while active growth managers lacking those exposures are underperforming.

The risk is to the upside in the market because earnings are very strong and investors are underexposed to smaller names, which are now catching up. He also expects a ceasefire in Iran due to oil demand from China and Asia, supporting the broader market.

The stock is trading under the 200-day moving average and facing tough Q4 comps with a predicted 34% earnings decline. However, three specific catalysts are approaching: Short selling features, "Trump/Gerstner accounts" (government-backed savings initiatives) launching July 5th, and a potential SpaceX IPO. While the immediate technicals and earnings setup suggest downside volatility ("nothing good happens under the 200 day"), the structural catalysts provide a massive growth runway. The "Trump Accounts" position Robinhood as a primary custodian for government-incentivized savings, and a SpaceX IPO would drive massive retail volume. The short-term dip is an entry point for these medium-term events. Accumulate. Talkington suggests the stock could drop to 65 before rallying to 135, making it a "good year to start building a position." Continued crypto trading volume decline and failure of the SpaceX IPO to materialize.

Bitcoin has suffered a severe drawdown and "damage has been done" to the chart, making a V-shaped recovery unlikely. Talkington explicitly "added to the position last week." Despite the bearish technicals, the fundamental thesis warrants accumulation. The strategy here is to buy into the fear and structural damage, accepting that price action will be choppy rather than immediate upside. Buy/Accumulate. She sees a floor/accumulation zone around 56,000 to 60,000. Further technical breakdown below the 56k support level.

"Let it run." The speaker advises holding or buying this ETF as the market broadens out. Unlike the market-cap weighted S&P 500, RSP is equal weight. Crucially, its largest sector weighting is Industrials (>16%). Industrials are currently benefiting from the economic expansion and the physical infrastructure side of the AI trade. SanDisk is currently the top holding (50bps). If the "broadening out" trade fails and capital rushes back exclusively to mega-cap tech.