75% Tech Crash; Gareth Soloway Reveals Shocking Bottom For Stocks, Gold, Bitcoin

Summary

Gareth Soloway provides a technical analysis market update, highlighting a semiconductor correction with a near-term bounce opportunity but a longer-term bearish outlook. He details key levels for the S&P 500, NASDAQ, oil, gold, and Bitcoin, and expects yields to decline as the economy weakens. He sees gold and Bitcoin as potential beneficiaries of capital rotation away from overextended tech stocks.

• Semiconductors have likely topped for the cycle, with 75% downside possible eventually, but near-term bounces offer trading opportunities.
• Gareth is long semis for a bounce, has concentrated capital in Oracle for a contrarian bounce, and highlights MRVL and STX as examples.
• He plans to short oil at $87, expecting a rejection back to the $60s driven by technical resistance and political pressure ahead of midterms.
• Gold may see one final flush to $3,500, which would be a long-term buying opportunity, while its long-term bull case remains intact due to fiscal concerns.
• Bitcoin is forming a bullish inverse head-and-shoulders pattern with a near-term target of $71-72K, supported by relative outperformance.
• Key levels to watch: S&P 500 at 7,300 and NASDAQ at 25,000; breakdowns would signal major declines.
• He expects 10-year yields to head lower over 3-6 months as the economy weakens, favoring long Treasuries.
• Apple is at massive resistance and is expected to decline alongside semis after a bounce.