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🌯 Debt Ceiling Can't Hold Us

🌯 Debt Ceiling Can't Hold Us

🪙Debt Ceiling - Biden and House Republicans agreed on the debt ceiling, spending cap, and key fiscal measures. 🤖AI Takeover - Check out the top stocks leading the market rapidly higher. 🌮Daily Menu - See the spicy stock movers, the chef's top pick, and more.

Chipotle Money
May 30, 2023

We hope you're feeling refreshed and recharged after the weekend, ready to dive into another exciting week with us. 😄

🪙Debt Ceiling - Biden and House Republicans agreed on the debt ceiling, spending cap, and key fiscal measures.
🤖AI Takeover - Check out the top stocks leading the market rapidly higher.
🌮Daily Menu - See the spicy stock movers, the chef's top pick, and more.

🪙 Debt Ceiling Can't Hold Us

In a rare political duet, President "Deal-Maker" Biden and the Debt-Ceiling Dancers (aka House Republicans) agreed on raising the debt ceiling and capping spending. This fiscal fiesta features a two-year debt limit sequel, a well-fed defense budget, and fully funded veterans' medical care.

It doesn't end there! They're serving up work requirements for food stamp recipients – no free lunch here – clawing back unspent Covid-19 funds, and slimming down the IRS budget. Students, it's time to restart loan repayments – the party's over! And finally, they're keeping Mother Earth grinning with climate and clean energy measures.

🤖AI Takeover

Holy guacamole! Last week, the Nasdaq 100 Index spiced up by 3%, while the Dow Jones Industrial Index played it cool like a cucumber. This wild salsa dance between the two shows investors are feeling uncertain and can't decide where to dip their chips.

But fear not, amigos! The "Spectacular Seven" stocks – $AAPL, $GOOGL, $MSFT, $AMZN, $META, $TSLA, and $NVDA– are the hottest burritos in town, responsible for the Nasdaq 100's $4 trillion fiesta of market valuation growth this year. Other tasty treats in the AI space include chipmaker $MRVL, cloud-based security maestro $ZS, and $AMD. So, while investors may be unsure of the overall market flavor, they're definitely craving some AI-filled, high-return enchiladas.

Keys to Approaching Your Next Trade

Maintain a clear head before every trade
Approach each trade with a fresh perspective
Let go of emotional attachment to previous trades
Focus solely on the present opportunity
Avoid making rash choices based on past experiences

📈 Bulls Key Levels: A breakout over 424 could result in an aggressive move into the 430s

📉Bearish Key Levels: As we trade into channel resistance, we can expect sellers to keep the stock down with consolidation or even a reversal to the channel support

⚠️Warnings: Breaking over the channel raises the risk of a false break which would give the bears ammunition to drive $SPY to the channel support