Hello friends,

The market has been riding an uptrend since early August, but over the past week we’ve started to see cracks forming. In today’s breakdown, we’ll take a closer look at the QQQ, major tech names, Bitcoin, and a few standout opportunities to understand whether this is the start of a deeper pullback—or simply a healthy pause before the next leg higher.

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Reading the Market: QQQ on the 4-Hour Chart

Using extended trading hours on the four-hour chart helps smooth out the daily gaps and gives us a clearer picture of intraday market dynamics.

• From August 1st through mid-August, QQQ pushed consistently higher, printing higher highs and higher lows.
• Around August 15th, momentum cracked—the index posted a lower low and failed to push higher.
• Since then, we’ve seen a pullback of about 3–4%.

Right now, the market feels hesitant, likely waiting on clarity from the Fed. Tomorrow’s news event could be the spark that decides whether we continue lower or reverse back into an uptrend.

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Bitcoin: Cooling After a Strong Run

Bitcoin has been trending lower after an impressive multi-month rally. This kind of sideways to downward action is natural after such strong gains. For now, consolidation seems likely until new momentum builds.

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Tech Giants: Short-Term Pressure

• Apple (AAPL): Broke higher in early August for a quick 15% run, but the last few sessions have turned sideways to lower. A break below 223 could bring deeper correction, though Apple remains a relatively steady performer compared to other mega-caps.
• Microsoft (MSFT): Corrected 8–10% from recent highs. Potential entry levels may emerge once a reversal signal appears.
• Nvidia, Amazon, Meta: All trending down since mid-August breaks of support. No reversal yet.
• Google (GOOGL): Weaker, but holding up better than peers.
• Netflix (NFLX): Sideways action, but still well off recent highs.
• Tesla (TSLA): Choppy and messy for months; still in a downtrend short term.
• Broadcom (AVGO) & Palantir (PLTR): Both in correction phases. Palantir especially has run too far, too fast over the past two years and now looks due for a cooling-off period.

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Berkshire Hathaway & UNH: Signs of Strength

One bright spot in the large-cap space is Berkshire Hathaway (BRK). After several months of correction, it has shown signs of reversal since mid-August.

We are also seeing similar strength tied to its position in UnitedHealth (UNH), which saw a massive 68 million share purchase disclosed on August 15th. The stock spiked on the news and now looks poised to consolidate before potentially offering another entry point.

For long-term investors, UNH present interesting opportunitiy. A well-timed position here could deliver substantial gains over the next one to two years.

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Final Thoughts

The broader market is pulling back after a strong August run. For now, it looks like a pause rather than a confirmed reversal, but all eyes are on tomorrow’s Fed update.

While most big tech names are correcting, opportunities are emerging in Berkshire Hathaway and UNH.

Stay patient, stay disciplined, and remember: the market often tests your conviction before rewarding it.

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