Market Recap - June 20- 23, 2023

June 23, 2023

The broad US  major benchmarks and equities pulled back on the week's last trading session.

• DIA -.64%  QQQ -.99%  SPY -.76%

Notable event last week Fed Reserve Chairman Powell remarks on Financial Committee

Weekly Performance:

• DIA -1.69%  QQQ -1.33%  SPY -1.42%

There has been a notable rotation in the US stock market/ equities, the indices have lost a whole percentile basis for the week, after 5 weeks stretch of green weekly performance.

The technology sector starts to mellow on rallies this week, while AAPL and MSFT continue to eked a record high performance for the week.

There has been a strong selling force in the Solar energy sector.

• Weekly basis performance - ENPH -12.72% SEDG -11.94%  FSLR -2.37%  
• JKS -11.14%  CSIQ -10.60%

The bullish movers this week are the  Blockchain/ Cryptos sectors:

 June 22, 2023

The US major benchmarks and some equities bounced back, and the Technology sector led the stock rally today.

• SPY +.36%  DIA -.03%  QQQ +1.18%  

US Macro News:  US Jobless Claims held steady US Jobless Claims Hold Steady at 20 months high

• AMZN +4.26%

June 21, 2023

The US stock major index (es) printed a 3-red streak day, the Technology sector is the worst performer today.

• SPY -.51%  DIA -.30%  QQQ -1.36%

Federal Reserve Chairman Powell says that the fight against inflation has a long way to go expect another rate hike

The Momos experienced the first sell-off today:

New Breadth of Momo Stocks:

• - The Blockchains

 

Industrials Momo stock

Market Recap June 13- 17, 2023

 June 14, 2023

It is a mixed reaction in the US equities as Federal Reserve Chairman Powell pauses interest rate hike for the month of June Powell pauses for June but remains hawkish and sees another 2 hikes for the year

• DIA -.64%  SPY +.12%  QQQ +.73%

The 3 tech momo names continue to rise:

NVDA continues to rally on AI euphoria

TSLA's day 1 of red after 13 days of green streak, still +5% for the week

June 13,2023

The US stock market continues to rally as May CPI posted its lowest rise in 2 years MAY CPI . The Nasdaq continues to be the top performer in the market.

• DIA +.43%  SPY + .66%  QQQ +.77%

Notable Movers: 

The Bullish Stocks:

Breakout Watch: 

Market Recap - June 5- 9, 2023

June 9, 2023

The stock market posts another gain on the last trading of the week.

• SPY +.18%  DIA +.14%  QQQ +.38%

Tesla stock posted 11 green streaks days following the news that GM is partnering with their Tesla Supercharger

Netflix hits another 52-week high today as JPM raises price target to $500 from $480

 June 8, 2023

The  US major benchmarks and equities bounced from yesterday's sell-off, notably, the S&P500 recouped and then some, of what it has lost yesterday's trading session.  

• Today-  SPY +.60%    ( 6/7/23 SPY -.35%) 

The technology sector/ ETF bounced as well, but not symbiotic with the S&P 500.

• Today- QQQ +1.24%  (6/7/23  QQQ -1.70%)

Notable Bull Movers:

• CVNA +56.02%  W +7.40%  BROS +7.50% 
• Continous rally - TSLA +4.58%  NFLX +2.40%  AMBA +2.73%

June 7, 2023

The technology sector QQQ -1.70%  suffered its biggest loss since (4/25/23  QQQ -1.89%)

along with it slide today, the Tech momos slid as well.

• AMZN -4.25%  META -2.77%  GOOGL -3.78%  

The AI hype trades have taken a pause today.

• NVDA -3.04%  MU -.71%  PLTR -4.98%

Other leader stocks that have performed really well in the month of May took a beating today as well.

CMG

SNOW

PANW

TWLO

WDAY

ELF

Meanwhile, the strength in Industrials, Infrastructure, and Agriculture continues.

CAT

DE

MOS

June 6, 2023

It's another teid movement in the US equities following last Friday's monster rally in US benchmark & equities.

• DIA +.01%  QQQ -.02%  SPY +.22%

COIN slump as SEC lawsuit filed SEC sued Coinbase for allowing Americans to trade unregistered cryptos

The Industrials and Agriculture have been losing sectors in the last 4 months, it appears today that the industry's fate is changing as it exhibits a strong price reaction or rally with volume.  *DE & CAT are other names on these groups, not charted*

CF

     

IPI

MOS

Other sectors showing potential bottom reversals are Furniture makers and China stocks.

RH

WSM

W ignited the rally in the sector following strong Q1 earnings result

NTES

BIDU

BABA

Market Recap - May 30- June 2, 2023

June 2, 2023

The US equities finished the week with a two-day consecutive rally.  

• DIA +2.15%  QQQ +.75%  SPY +1.45%

The stock rally is attributable to strong Non-Farm Payrolls for May increased by 339k better than 190k Dow Jones expectations  May NFP .  

The Technology sector continues to print 52 weeks high

•  NFLX -.66%, MSFT +.85%, META 0%

It's noticeable today that the Dow Jones / Industrial sectors have finally bounced after weeks of weakness or lagging behind the Nasdaq & S&P 500.

Notable Earnings Mover:

LULU post Q1 earnings result

May 31, 2023

The major US stock benchmarks/ indices took a breather today, the last trading of the month of May, even the technology sectors pulled back today after a day of massive run-up because of NVDA blowout earnings result and AI guidance.

• DIA -.30%  SPY -.55%  QQQ -.57%

Notable Earnings Mover: