The weekly analysis that closed on Friday opened thirty fresh buy signals, and ten of them are below — a different ten from yesterday's. Space, quantum computing, uranium, rare earths, compute infrastructure and air mobility: this is the most mobile group we follow, and it changed side all at once.

The session split technology cleanly in two. Holding up were Micron Technology, up 4.13%, Texas Instruments at plus 1.19% and Cisco Systems at plus 1.09%, with NVIDIA flat at minus 0.07%. Paying the bill were software and the mega caps: Adobe minus 3.78%, Meta Platforms minus 3.54%, Microsoft minus 3.04%, Intuit minus 2.91%, Salesforce minus 2.67% and Oracle minus 2.57%.

The technology sector as a whole still closed up 0.16%, the second best of the day. That is the tell: the rotation is running inside the theme, with money moving out of software margins and into the productive capacity of memory and chips.

Reddit joins the main US index from today's session, news that had already supported the stock on Friday. Index inclusion produces forced buying from the funds that track it, so Reddit stocks move on a technical event before a fundamental one: the shares still gave up 7.63% on the eve of the entry.

On the chip side, Friday's filing is still in the background: NVIDIA disclosed holdings worth roughly 21 billion dollars in SpaceX and 30 billion in Intel, a snapshot of how tightly the big artificial intelligence names and the hardware makers are now bound together.

Alibaba gained 0.73% after confirming the sale of its gaming arm for more than two billion dollars, another step in trimming the non-core perimeter, and reports on 20 August. Baidu, reporting today, added 0.43% on news that Duquesne Family Office has taken roughly 88,000 shares — that office's first exposure to US-listed Chinese technology in over two years. XPeng closes the window with results on 24 August.

AstraZeneca released results from two late-stage lung cancer studies: the Tagrisso-Orpathys combination and Enhertu, developed with Daiichi Sankyo, both met their endpoints, while the group halted a separate late-stage study on volrustomig after it proved no better than existing therapies. The shares closed up 0.87%, a split reaction that mirrors precisely the balance between pipelines moving forward and pipelines stopping.

Of eleven US sectors only one closed green, and it was energy. Exxon Mobil added 0.85% on the very day it went ex-dividend, which makes the session stronger than the number suggests; Chevron gained 1.35% and Petroleo Brasileiro 2.07%. Crude stays tense on the Iranian front, with the truce expiring and the Strait of Hormuz still deadlocked.

In Sao Paulo the index closed flat, held back by its own commodity heavyweights: Vale felt the seventh consecutive drop in Chinese iron ore, while Petrobras sat among the detractors ahead of quarterly results.

On the Milan market the FTSE MIB finished virtually unchanged, yet the dispersion inside the index was wide. At the top STMicroelectronics, up 5.03% on the broad rebound in European chipmakers, followed by Ferrari at plus 1.36% and UNIPOL ASSICURAZIONI at plus 1.35%. At the bottom Nexi, down 4.25%, Stellantis Milano at minus 4.11% and Fincantieri at minus 3.66%.

In between, most of the list barely moved: Intesa Sanpaolo minus 0.46%, UniCredit minus 0.67%, Leonardo minus 0.32%, Monte dei Paschi flat and Enel at minus 0.29%. Saipem deserves a line of its own: still on the day, but with the weekly Inversion Point flipping to buy on the candle now forming. If Friday's close confirms it, that is a new signal.

The four European baskets we follow all carry a weekly buy signal opened in the spring: FTSE MIB, CAC 40 and FTSE 100 from 7 April, DAX from the 13th. Nineteen weeks in the trade, and on that they are aligned.

Where they part company is the result. The Italian basket returns 15.46% since the signal, the German one 6.34%, the French 6.04%; the British basket stops at 0.90%, a seventeenth of the Italian over the same span. All four lost ground on Monday, Paris worst at minus 0.64% and Milan almost still at minus 0.02%.

Among US sectors energy took the day, with US energy ETF up 1.08% on the session and 8.50% over the month; the technology basket Technology US added 0.16%. At the back Communication Services US, down 1.89%. In Europe Basic Resources Europe held at plus 0.82% and European health care ETF at plus 0.81%, both of them squarely at odds with their own weekly picture, which had them retreating.

Two baskets deserve a line even without leading the session. The semiconductor ETF, semiconductor ETF, is where Monday's split between memory and software reads better than on the single names, and it carries a weekly signal reversal on the candle now forming. Gold ETFs, which we follow through gold ETF, hold a buy signal open since 3 August while the metal stays 5.8% ahead over four weeks on the back of a soft dollar: the technical analysis of gold says the structure is holding, and that is why the signal is still open.

The week lines up six names from our universe, and it lines them up in pairs: the US consumer and Chinese demand turn up on the same day, twice.

Tuesday 18 August — Home DepotLong

Tuesday 18 August — BaiduShort

Thursday 20 August — WalmartShort

Thursday 20 August — AlibabaLong

Tuesday 25 August — IntuitLong

Tuesday 25 August — Zoom CommunicationsLong

Just beyond the seven-day window comes the block that weighs most on the current theme: Salesforce and CrowdStrike on 26 August, and Nvidia on the same date.

S&P 500 (SPY), the S&P 500 ETF, shed 0.47% and moved away from its record high, now 0.87% above. The buy signal has been open since 6 April, this is week twenty, it returns 13.72% and all three profit-taking windows have been reached: coverage of the trade is finished and only the trailing stop is in charge.

Invesco QQQ Trust (QQQ), the Nasdaq 100 ETF, gave up just 0.16%, a third as much. Its buy signal was born on the close of 14 August: week two, still flat, with all three windows ahead and its record high 2.57% above the current price.