Concerns about AI spending hit Big Tech again. Meta fell 9% after higher AI spending turned its free cash flow negative. The chip index dropped 6.7% on Oct 22, its worst day since June. The S&P 500 slipped 0.5% for a second weekly loss, while the Dow rose for a third week in a row. Money moved into energy (+1.7%), utilities (+1.3%) and consumer staples (+1.3%). Technology fell 2.8% and communication services fell 3.2%.
Oil was the week’s biggest story. Brent jumped 6% to $116.7, a six-month high, after Houthi attacks hit Saudi oil sites. Gold fell 4.1% to a three-month low.
Bitcoin slipped 2.5% to $80K, and altcoins fell harder. Spot Bitcoin ETFs lost $635M on Oct 22, their biggest one-day outflow since June. Crypto stocks fell even more: this month Coinbase is down 16%, Robinhood 20% and MARA 44%, while Bitcoin is down 5%. Coinbase and Robinhood both report earnings this week.
This week comes down to three things:
The Fed decides on Wednesday. Markets expect a hold. With Brent near $117, watch what the Fed says about oil-driven inflation. A hawkish tone could push yields and the dollar higher and put pressure on tech and crypto. The ECB and the Bank of Japan also decide this week.
Bitcoin needs to hold $79.8K. A daily close below it opens the way to $75K. See which coins are holding their trend →
Microsoft and Alphabet report on Wednesday, and Amazon reports on Thursday. After Meta, investors want proof that AI spending pays off. Solid cloud results could lift growth stocks and Bitcoin, and altcoins usually bounce the most.
Which trades should I consider?
Our analysts flagged three setups with strong trends:
JUST (JST) gave a breakout signal on Oct 26. JST is at $0.1423 and up 16.6% in 30 days, with a Strong Up trend (10/10). A daily close above $0.1432 confirms the breakout. $0.127 is support.
Pepe (PEPE) is testing resistance. PEPE rose 9.3% during a red week and has a Strong Up trend (9/10). The trigger is a daily close above $0.00000455.
Injective (INJ) is pulling back inside an uptrend. INJ is at $7.64, down 12.4% this week, with a Strong Up trend (10/10). The uptrend holds while INJ stays above its 50-day average at $7.41. $6.44 is support.
Find more setups: Chart Patterns → · Signals Summary → · Crypto Screener →
Before you trade, check these two VIP reports:
Smart Money Flows (VIP). Last week’s biggest smart-money buy is now one of this week’s biggest sells. Smart money sold four coins into rallies of 10% to 480%, and sellers now outweigh buyers more than 4 to 1. Two coins the report flagged last week then fell 34% and 49%.
Token Unlock Monitor (VIP). About $200M of tokens unlock in the next seven days. Three small caps add about $42M of new supply within 36 hours, and one of them releases more than 12% of its circulating supply in a single day.
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The altFINS Team
Not financial advice