๐Ÿณ WhalePool Traders Journal
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#USMarketUpdate
S&P 500 closes lower, Nasdaq falls more than 1% as chip stocks suffer: Live updates

Stocks fell again on Friday, with Wall Street posting a weekly decline, as traders weighed the latest moves in semiconductor names along with recent quarterly reports.

The broad market index lost 1.01% to end at 7,457.69, while the Nasdaq Composite dropped 1.4% to 25,520.24 as tech stocks came under scrutiny. The Dow Jones Industrial Average fell 406.55 points, or 0.77%, to close at 52,146.42.

The major stock benchmarks notched weekly losses, with the S&P 500 off 1.6%, while the Nasdaq slid 2.9%. The Dow fell 0.9% on the week.

The VanEck Semiconductor ETF (SMH) posted its third weekly decline in four weeks, dropping almost 9% in the period. Semiconductors were hit especially hard earlier in the session after Chinese startup Moonshot AI unveiled a new model that it said narrows the gap with the top offerings in the U.S.


https://www.cnbc.com/2026/07/16/stock-market-today-live-updates.html?__source=androidappshare
No B.S. Just Charts.

Crash alert - and the first real buy levels. In today's Game Plan, Chief Market Strategist Gareth #Soloway breaks down the semiconductor collapse he's been warning about for months - now near major swing-buy levels on Micron, SanDisk, and Marvell. He's covered most of his shorts and is starting to nibble longs. Plus the Nasdaq's line in the sand at 25,000, Netflix and Oracle after earnings, and gold and silver nearing support.

๐Ÿ“Š COVERED IN THIS EPISODE:
๐Ÿ”ด Semiconductors (overview) - The collapse Gareth warned about has arrived; he expects an eventual ~70-75% drawdown, but big 20-25% bounces come first - and he's scoping buy levels now
๐Ÿ”ต S&P 500 - Down ~1%, testing the 2021 bull-market trendline; the more it's hit the weaker it gets. A break below would be a failed breakout - a bad sign for the broader market
๐Ÿ”ด Nasdaq 100 - Down ~2% (~585 pts), dragged by the semis; the line in the sand is 25,000 (a major pivot). Break it and 24,000 is next
๐Ÿ”ด Micron (MU) - A huge support zone from ~$815 down to the ~$750 gap fill; Gareth got out of his short and may start nibbling a long below $800
๐Ÿ”ด SanDisk (SNDK) - Down $1,000+ from its highs; major support ~$1,285 down to ~$1,200 (the textbook broke-retraced-now-lower play)
๐Ÿ”ด Marvell (MRVL) - A 40%+ drop into good support - one of his favorites for a bounce
๐Ÿ”ด Netflix (NFLX) - Blew through $68.70 on weak earnings; next level ~$64 for a possible day-trade bounce
๐Ÿ”ต Oracle (ORCL) - Support ~$120 (two trendlines); Gareth likes it as the inverse of the memory names - extreme fear vs. earlier extreme greed
๐Ÿ”ด SpaceX - Nasty drop after a scrubbed launch; Gareth stays on the sidelines unless it hits the $100 psychological level
๐Ÿ”ต Intuitive Surgical (ISRG) - Down on guidance; no interest unless the ~$330 gap fill
๐Ÿ”ต Alcoa (AA) - A bear-flag break lower; possible swing-trade support ~$41 as the metals near support
๐Ÿ”ด Gold - Hammered (low ~$3,959) as the dollar bounces; support just below $3,900 where Gareth starts nibbling longer-term
๐Ÿ”ด Silver - Within $0.77 of his $54 target; he'll accumulate $54 down to $46. The first bearish retail comments are appearing - an early psychological tell
๐ŸŸข Crude Oil - Upticking on Middle East degradation; $87 is his short level (the buy call worked), expecting a pullback toward $70 or sub-$70
๐Ÿ”ต Natural Gas - A tiny bid, but forming a bear flag; needs to lift off the mat soon or he'd favor a breakdown by mid next week
๐Ÿ”ต Bitcoin (BTC) - Slipped back below the inverse-H&S neckline (never confirmed above); still a top performer since early July - watch if a Nasdaq bounce lifts it

๐Ÿ”‘ KEY TAKEAWAY: The semiconductor crash Gareth called is here, and he's flipped from short to scoping longs - Micron (below $800), SanDisk ($1,285-$1,200), and Marvell into support for 20-25% bounces, even though he sees an eventual ~70-75% cycle drawdown. The Nasdaq's 25,000 is the line in the sand, and the psychological tells (bearish silver comments, crushed hype names) are exactly what he watches to time the turns.

โฑ TIMESTAMPS (estimated)
0:00โ€‹ - Intro: The Semi Collapse & Scoping Buy Levels
1:30โ€‹ - S&P 500: The Failed-Breakout Risk
3:00โ€‹ - Nasdaq: The 25,000 Line in the Sand
5:00โ€‹ - Netflix: Blew Through Support on Earnings
7:00โ€‹ - Intuitive Surgical, Alcoa & SpaceX
9:30โ€‹ - Oracle: Extreme Fear as the Inverse Trade
11:00โ€‹ - Micron, SanDisk & Marvell: The Buy Zones
14:00โ€‹ - Gold & Silver: Nearing Support & the Psychology
17:00โ€‹ - Oil, Natural Gas & Bitcoin
19:30โ€‹ - Wrap-Up

#MyTradingGamePlanโ€‹ #VerifiedInvestingโ€‹ #GarethSolowayโ€‹ #StockMarketโ€‹ #TechnicalAnalysisโ€‹ #Semiconductorsโ€‹ #Micronโ€‹ #SanDiskโ€‹ #Marvellโ€‹ #Netflixโ€‹ #Oracleโ€‹ #Goldโ€‹ #Silverโ€‹ #Bitcoinโ€‹ #StockMarket2026โ€‹


https://www.youtube.com/live/ohUEVe7tW6w?is=2bxOxXTquW_etjxC
What happened in China this week:

1. China's growth slows to 4.3% in Q2 2026. Consumption grew just 2.7%, property investment fell 18%, and exports rose 27%.

2. China AI stocks fell with the rest of the world. Sector rotation is underway, and biotech stocks have been one beneficiary.

3. One biotech stock that IPO'd in February is up 80% since and has just turned profitable.

4. Apple picked Alibaba and Baidu to power Apple Intelligence across iPhone, iPad, Mac and Vision Pro devices in China.

5. CATL's sodium-ion technology is going places. It just won a deal to deploy 5GWh of sodium-ion energy storage systems across Western Europe from 2027


For more insights, read [Premium]: https://growthdragons.substack.com/p/growth-dragons-weekly-china-gdp-slows
๐Ÿณ WhalePool Traders Journal
No B.S. Just Charts. Crash alert - and the first real buy levels. In today's Game Plan, Chief Market Strategist Gareth #Soloway breaks down the semiconductor collapse he's been warning about for months - now near major swing-buy levels on Micron, SanDiskโ€ฆ
What happened in China this week:

1. China's growth slows to 4.3% in Q2 2026. Consumption grew just 2.7%, property investment fell 18%, and exports rose 27%.

2. China AI stocks fell with the rest of the world. Sector rotation is underway, and biotech stocks have been one beneficiary.

3. One biotech stock that IPO'd in February is up 80% since and has just turned profitable.

4. Apple picked Alibaba and Baidu to power Apple Intelligence across iPhone, iPad, Mac and Vision Pro devices in China.

5. CATL's sodium-ion technology is going places. It just won a deal to deploy 5GWh of sodium-ion energy storage systems across Western Europe from 2027.

For more insights, read [Premium]: https://growthdragons.substack.com/p/growth-dragons-weekly-china-gdp-slows
#USMarketUpdate
Wall St ends lower for the day and week as chip selloff broadens | Reuters

SUMMARY
Indexes down: Dow 0.77%, S&P 500 1.01%, Nasdaq 1.40%Netflix falls as earnings forecast disappointsIntuitive Surgical slides on insurance coverage concernsFlaring Middle East tensions send energy stocks higher

NEW YORK, July 17 (Reuters) - Wall Street extended its decline on Friday as a pullback on stocks associated โ€‹with the AI boom, which has driven many of the gains so far this year, morphed into a larger risk-off sentiment.

Semiconductor shares, โ€Œwhich have led the broader market's move in recent sessions, initially led the selloff, which broadened as the session progressed.

All three major U.S. stock indexes closed lower on the day and posted weekly losses.

The Philadelphia SE Semiconductor Index (.SOX), opens new tab logged its steepest weekly loss in over a year, and has tumbled over 18% so far in July. Even so, the index remains up โ€‹nearly 65% year-to-date, compared with the S&P 500's nearly 9% gain over the same time frame.

The SOX closed 20.2% below its June 22 record โ€‹closing high, confirming the index entered a bear market on that date.

Some investors in the artificial intelligence space have begun โ positioning for a slowdown in the nearly trillion-dollar spending boom, with some active managers already scaling back their exposure, according to a Reuters analysis...

Among the Magnificent Seven group of AI-related megacaps, all but Apple (AAPL.O), opens new tab dipped, with Meta (META.O), opens new tab and Alphabet (GOOGL.O), opens new tab suffering the worst of it, down 2.7% and 3.2%, respectively...

Among the major sectors of the S&P 500, communication services (.SPLRCL), opens new tab and consumer discretionary (.SPLRCD), opens new tab โ€‹fell the most, while energy stocks (.SPNY), opens new tab were the sole gainers, benefiting from spiking crude prices amid signs of escalating hostilities in the Iran war.

Q2 EARNINGS SEASON GETS OFF TO AN UPBEAT START

Second-quarter โ€Œearnings season โ is still in its early days, with 49 of the companies in the S&P 500 having reported.
Of those, 90% have delivered better-than-expected results, according to LSEG.

Analysts now see year-on-year S&P 500 earnings growth of 26.0%, in aggregate, up from the 19.2% expectations as of April 1, per LSEG.

Netflix (NFLX.O), opens new tab tumbled 7.3% after โ the company's weaker-than-expected earnings forecast, raising doubts about the sustainability of the content growth momentum.

Uber Technologies (UBER.N), opens new tab dropped 2.1% after the rideshare app announced it would acquire Germany's Delivery Hero (DHER.DE), opens new tab in a deal worth nearly $15 billion.
Intuitive Surgical (ISRG.O), opens new tab shares slid 14.2% after the medical device maker kept its da Vinci procedure growth forecast unchanged and warned insurance-plan changes may be delaying patient care.

On the economic front, โ consumer sentiment increased to a five-month high in July, but single-family housing starts and building permits dipped, and industrial output increased by a meager 0.1%

Declining issues outnumbered advancers by a 1.94-to-1 ratio on the New York Stock Exchange. There were 258 new highs and 180 new lows on the NYSE.
On the Nasdaq, 1,717 stocks rose and 3,019 โ fell as declining โ€‹issues outnumbered advancers by a 1.76-to-1 ratio.
The S&P 500 posted 48 new 52-week highs and 4 โ€‹new lows while the Nasdaq Composite recorded 75 new highs and 190 new lows.
Volume on U.S. exchanges was 17.55 billion shares, compared with the 20.87 billion average for the full session over the โ€‹last 20 trading days

https://www.reuters.com/business/wall-st-futures-fall-chip-selloff-gathers-pace-netflix-tumbles-2026-07-17/

Wall St ends lower for the day and week as chip selloff broadens
https://www.straitstimes.com/business/companies-markets/wall-st-ends-lower-for-the-day-and-week-as-chip-selloff-broadens