Sunday morning. Coffee. Three browser tabs open. Equities green. Crypto red. Oil red. None of them seem to be reading the same news.
That was the whole week in five tabs.
Where things stand
- S&P 500: 7,473 — up 0.9% on the week, just 0.4% off the all-time high
- QQQ: $717.54 — up 1.2%, riding big-tech earnings momentum
- Bitcoin: $75,556 — down 5% on the week, down 40% from the October 2025 peak
- WTI crude: $96.60 — down 8.4% on the week, the biggest weekly drop since February
- VIX: 16.70 — still asleep through the whole thing
The S&P is 0.4% from a record. Bitcoin is in a full bear market. Same five trading days. That kind of split tape is rare.
What we covered
Two pieces this past week. The Wednesday chart and Friday UOA recap got dropped — apologies. Here is what made it out:
- Monday — Nvidia or Nothing: One Stock, One Print, One Market. NVDA earnings, why one print on one ticker has been moving half the tape. As of Friday, NVDA is down 3% since the article — earnings reaction was muted.
- Saturday — BTC Under $75K: BlackRock Leads the Exit. Spot Bitcoin ETF outflows hit $1.63B in five days. BlackRock’s IBIT alone was 75% of that.
On my radar
1. The dispersion trade. If equities and crypto stay split next week, that is a real signal. A market that can shrug off a 5% BTC drop and a 8% oil drop is either incredibly resilient or incredibly blind. The Alpha Dashboard shows where the cross-asset flow is leaning.
2. NVDA’s $215 line. The stock dropped 3% post-earnings. The reaction was small, but the chart is now in a fight. Bulls need a hold above $210. Bears need a close below $200. We will be watching.
The week ahead
Quiet Memorial Day shortened week. PCE inflation print Thursday morning is the macro catalyst. Earnings calendar is light — the big names are mostly done.
Back Monday with a real stock pick. Expect more from the AI and semis names. Maybe a deep dive on AMD, which is still trading like nobody remembered it exists.
P.S. If you want to see the tickets that move the names we write about — before they show up in the headlines — give AlphaX Options a try this week. Same data we use to write Monday’s piece.
Trade Smart,
S.E.A.L. Alpha Team