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Today $SPCX is officially included in the Nasdaq 100! Is 157 an entry opportunity?
Brothers, just before the US stock market opens today, SPCX was officially included in the Nasdaq 100 Index. It took only 15 trading days from its IPO on June 12 to entering the Nasdaq 100, setting the fastest record in history.
News:
JPMorgan estimates that the inclusion will bring about $4.3 billion in forced buying from passive funds. However, SPCX's actual circulating supply is only about 4%, and low circulating supply means the buy-side impact could be amplified.
However, the market is also divided: Cboe executives warn to prepare for sharp fluctuations of ±$20; options trading volume has surged to 2.5 times the usual; on-chain data shows whales have placed sell orders worth about $4.44 million in the range of $156-175.
Technicals:
Yesterday it closed down at 160.42, and continues to decline before the market opens.
Upper resistance: 160-166, strong resistance 170-175.
Lower support: 155, if lost then look at 150-147.
Gongming's View:
Passive funds are real buying, but low circulating supply + whales placing sell orders at highs + frenzied derivatives hedging will make the short-term long-short battle very intense.
Trading strategy:
Conservative approach: wait for a pullback to the 150-152 range to go long;
Aggressive approach: go long at the current price around 157.
Don't chase highs after the positive news is priced in; wait for a pullback before entering. Only those who survive long can make big profits.
#GUSD年化升至3.8% #Strategy上周减持3588枚BTC