Market Overview (Week of 6/24/24)

The Markets:

Though QQQ and SPY both saw some selling pressure last week we are still in an overall uptrend. QQQ and SPY neither one have seen a real pullback on the charts since the end of May. I would not be surprised to see some selling pressure continuing this week as a pullback could be healthy before we potentially keep climbing. That said, be careful shorting such a strong market. Trade with the trend. My bias will not change until or unless we break the trend line or stop putting in new higher highs/lows.

Economic News:

Monday - Fed Speaker Daly at 2pm EST. I don't expect her to say anything that would change the direction of trading intraday but it's always good to be aware.
Tuesday - Home Price Index released in the premarket might provide some important levels for the day. Fed Speaker Cook at 12pm EST.
Thursday - Jobless claims and GDP in the premarket could provide important levels for trading around the day.
Friday - PCE data in the premarket could create important levels for trading around. Fed Speaker Bowman at noon EST.

Notable Earnings:

Tuesday - CCL

Thursday - NKE

Interesting Sectors: