Equities Climb Back and Berkshire Dumps on Kraft Write-down

Subscriber Data Trading Trackers

Well the big news on top of the equity bounce back today is the massive $3.76Bn write-down that hit Berkshire today as it finished -2.9% on the day falling $13.73 and now some 15.3% off the highs and firmly back inside its up trend channel:

Berkshire cash levels fell just a tad, but the company still holds $344.1Bn:

We talked about watching the QQQ this week as it will either fully confirm or simply move more subtly in the sell side direction. We move this weeks resistance at 567 and the support on the weekly is also the bull/bear pivot at 547. Today the QQQ put in a good day +10.22 to 564.10 and just a few points short of our weekly resistance:

As far as the futures let’s look at the Nasdaq futures with a strong move above our weekly resistance point already:

The SP500 futures settled right underneath our weekly resistance levels today:

Palantir earnings out and the stock did jump initially here and will see how tomorrows market absorbs the data as Revenue and EPS both beat and guidance was also above targets:

Source: MarketWatch

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