“Markets Rally on Fed Signal: CPI Next Big Test Ahead!”
SNOW is overbought; a short-term decline is preferred to reset momentum before testing ~$400.
Another major player in the moves is Snowflake. Snowflake stock was unable to hold onto all of its gains, and you can see a series of breakout attempts here that somewhat illustrates how the price moves when it enters breakout situations.
You can see here the first and main trend line of the breakout drawn down to the pivot point that occurred here in November or October 2025. When the price initially accelerated upwards, it was rejected and then climbed above it, consolidated, then came back down, retested the top of that trend line, then accelerated upwards, creating another pivot point.
Then this earnings report came along and gapped up above that trend line as well.