Key Data
The key data point for the week was the collapse of Iran talks, which led to an increase in oil prices [1]. This increase had a ripple effect on the market, causing futures to slide. The SPY targets and support levels were also important data points, with the stock remaining ultra-bullish above 7046-7002 support [4].
Earnings And Partnerships
The week saw some notable earnings and partnerships, with META partnering with CBRE to train fiber technicians [2]. This partnership is a positive development for META and can help the company expand its capabilities. The potential IPO of Cerebras Systems is also an important development, as it can mean direct competition for NVDA [3].
Technical Analysis
The technical analysis for the week saw the SPY remaining ultra-bullish above 7046-7002 support, with 7424-7490 targets and May/June reversal risk [4]. This analysis suggests that the market is still bullish, but there is a risk of reversal in the coming months. The oil prices increase also had a technical impact on the market, with futures sliding after the increase.