Equity markets showed nice strength this week as the bears got pushed back.

Many traders were bracing for a bad earnings season. But overall, big companies are doing fairly well. We're seeing many companies pull guidance, but everyone expected that.

And the big 4 earnings names this week (META, MSFT, AAPL, AMZN) all beat expectations.

We are also getting some favorable headlines on the China trade conflict, so maybe we get some actual resolution there.

Perhaps the biggest sign that the mood is changing is the drop in gold.

GLD is how about 6% off the highs. And it could drop much further if the Trump administration gets some actual deals done -- China of course being the big one.

The tricky thing is that the Oscillator is now at +83. That makes it hard to add new longs or chase winners.

However, at the same time, the shorts appear to be caught in a pain trade. So it's equally tough to short.

So I'll continue to be selective in adding Power Plays. For now, all our names are performing well.

Now let's talk about our current names:

Alphabet (GOOGL) looks like it has a durable post-earnings low, so I added it to Power Plays Thursday. It's much cheaper than the other Mag7 names with a super-stable earnings stream. So I expect GOOGL to rally nicely.

DoorDash (DASH) is a perennial favorite of mine, and it rallied above $200 today. I expect it to make new record highs above $215. We took off 1/3 into strength this week.

iShares Bitcoin Trust ETF (IBIT) has woken up beautifully, and we are down to 1/3. We will continue to let it ride.

AST SpaceMobile (ASTS) was stuck in the mud for quite a long time. But Alphabet (GOOGL) announced a new 3.8% stake in the company, which ignited ASTS above the key $25 level. ASTS is now on the radar of momentum traders so I expect more upside ahead.

Enjoy your weekend!

-Scott