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Weekend Market Update June 30, 2023
Just like that, it’s June 30, the end of the 2nd Quarter. Half the year is in the book. And what a strong first half it’s been. Here are the results so far.
Here is a look from, author of, illustrating the historical norm when the SP 500 is up more than 10% for the first half of the year.
Prices trend. Strength tends to lead to more strength. And this market is strong.
Enjoy the ride.
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SPY dipped to the August ‘22 pivot high and close the 21-day MA on Monday giving a nice buying opportunity. Today it gapped significantly higher resulting in an island bottom pattern. This is a strong uptrend showing continuation.
QQQ also gave a ‘gap and go’ today and remains very strong.
IWM moved into a previous resistance zone and found some selling.
DIA is, once again, back near the top of the range. Next week we’ll see if it can get up and out.
BTCUSD sold off on some early news regarding a hangup with some ETF listings. But it recovered very quickly and was even green for much of the day.
The Closing Bell
Wednesday I was a guest on “Conversations With a Pro Trader” hosted by Greta Wall of T3 Live.
We talked about:
Some of my recent trades
Bull & Bear opportunities
New trader challenges
And answered questions from live viewers
Here’s the replay.
Once again, today is the end of the month and quarter. So we’ll take a look at monthly charts in addition to the Weekend Weekly Charts.
Join me on Twitter tomorrow morning.
And let me know what you think along the way.
***This is NOT financial advice. NOT a recommendation to buy, sell, or trade any security. The content presented here is intended for educational purposes only.
Andrew Moss is an associated member of T3 Trading Group, LLC (“T3TG”) a SEC registered broker/dealer and member of FINRA/SIPC. All trades placed by Mr. Moss are done through T3TG.
Statements in this article represent the opinions of that person only and do not necessarily reflect the opinions of T3TG or any other person associated with T3TG.
It is possible that Mr. Moss may hold an investment position (or may be contemplating holding an investment position) that is inconsistent with the information provided or the opinion being expressed. This may reflect the financial or other circumstances of the individual or it may reflect some other consideration. Readers of this article should take this into account when evaluating the information provided or the opinions being expressed.
All investments are subject to the risk of loss, which you should consider in making any investment decisions. Readers of this article should consult with their financial advisors, attorneys, accountants, or other qualified investors prior to making any investment decision.
June 30, 2023, 4:00 PM
Long: AMD, ENVX0721C18, GOOGL, IWM, MARA0721C15, QQQ, SPY
Options symbols are denoted as follows:
Ticker, Date, Call/Put, Strike Price
Example: VXX1218C30 = VXX 12/18 Call with a $30 strike