The video in this report is only accessible to members
The video in this report is only accessible to members

Trend bullish-Minor weakness near highs of the recent trend channel doesn’t look too serious.  Pullbacks should be buyable for additional strength into late June.

SPX showed some brief evidence of stalling out to kick off the post Expiration shortened week which was discussed briefly last Friday.  While SPX fell roughly -0.50%, it was a bit more broad-based with $RSP falling more than 1%.

However, little to no real weakness occurred to change the existing trend and Large-cap technology still held up better than expected within SPX.

It’s thought that a breach of 4300 would need to happen to cause even minor concern about SPX starting to turn lower, while the bigger “line in the sand” lies at 4200.  While many have the urge to try to sell into this rally, neither SPX nor QQQ have given much of a reason to expect much selling pressure thus far.

The video in this report is only accessible to members

Semiconductors likely to continue leading within Technology

Semiconductor names have been one of the stronger areas within Technology in the last couple of months following the breakout above late 2021 highs in relative terms to Equal-weighted Technology  (Chart shown is VanEck Semiconductor ETF ($SMH) relative to $RS...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, FSI Macro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Don't Miss Out
First Month Free