📉 $MRNA closed down over 17% after leaked melanoma results — after nearly quadrupling since mid-August. 🧬 The reported benefit was positive. Expectations were enormous. 🎯 Lose $174, and $116 comes into focus. 👀 Saturday’s full data is the next test.

📉 Chips are down about 6%, breaking the 11,000 floor that held Tuesday’s bear trap. 💸 All 60 stocks in a YF chip basket are down since Oct. 6 — erasing roughly $3T. 🎯 Bulls need to reclaim 11,000 by the close. 👀 Below it, 10,450–10,550 is the next test.

💸 Tesla cut $5B from this year’s spending plan. The bill is coming later. 📊 Lighter spending helped deliver $1.53B in free cash flow. 🏗️ The new plan still leaves roughly $7B for Q4 — a record. 👀 $TSLA says spending will keep expanding over the next few years.

🚗 Tesla still sells cars. Its stock is trading more like SpaceX. 🔗 $TSLA and $SPCX moved the same direction on 15 of the past 20 days. Its links to GM and Ford turned negative. 📊 The connection survives adjusting for Nasdaq moves. 👀 Earnings tonight test the merger trade.

📈 Warren Buffett's $BRK.A gained 7% while chips LOST 15%. 🔄 That combination over 12 sessions last appeared in October 2001. 📊 Chips rose a week later in 5 of 6 prior cases — but fell over the next year in 5 of 6. 👀 A rare signal, not a forecast.

🚀 Investors bought SpaceX for the rockets. They’re getting an AI cloud. 🤖 AI generated $7.6B last quarter — more than Starlink and rockets combined. 💸 It also absorbed 84% of capital spending. 👀 $SPCX’s next test is closing the gap between spending and revenue.

🪤 Chips reversed an ugly open. The bottom isn’t settled. 📉 Since 1994, every solana:5XqMbyZbtse5UQUzgrYMpeWLWLR6BWFqUm5H3VAWpump losing streak of 7+ sessions saw the index undercut its final close within a month. 📈 Three months out, it was usually higher. 🎯 Bulls need to defend 11,000–11,140.

🪤 $CRWV buyers are trying to spring a bear trap. 💸 Debt insurance has nearly tripled in a year, implying roughly 60% default odds over five years — a market price, not a forecast. 🎯 Bulls need a close above $59.25, then $66. 👀 Watch the stock AND the debt.

⚡ Great Scott! The AI build-out could hit 42 Doc Browns next year. 🚗 One Doc Brown = 1.21 gigawatts. 🏗️ @SemiAnalysis_ forecasts 51 GW of new data-center IT capacity outside China — double this year. 🔌 The buildings, power and chips all have to show up.

📉 Black Monday turns 39. Protection helped feed the panic. 💸 Today, the 200 largest leveraged ETFs carry $487B in exposure. ⚠️ Strategas’ @Todd_Sohn flags leverage as a key risk into early 2027. 👀 When stocks stumble, the funds may have to join the sellers. xitter.cf/MikeZaccardi/status/21…