June 26, 2023

Markets:

Stock futures were little changed Monday as Wall Street looked to see if the market rally could find more momentum in the final week of June.

The market rally sputtered last week. The Nasdaq Composite fell 1.44%, breaking an eight-week win streak. The S&P 500 dipped 1.01%, ending a five-week winning streak. The Dow, which has underperformed in 2023, shed 1.67% to halt a three-week positive run.

Segments of the market is still on track for a banner first half of the year. The tech-heavy Nasdaq Composite is up nearly 29% year-to-date, and the S&P 500 is up more than 13%. The Dow, however, is up less than 2%.

The final week of June is a light one for economics reports and corporate earnings, which are highlighted by Walgreens Boots Alliance on Tuesday and Nike
on Thursday.

Traders will likely keep an eye on Europe, where Russia saw a brief rebellion by a private military group over the weekend. Uncertainty about the situation there will likely keep the markets on edge.

U.S. Treasury yields declined on Monday as investors looked ahead to a week of fresh economic data that could provide insights into the state of the U.S. economy.

Portfolio:

We enter the new trading week excited for whats developing and continues to build.  Technically, above 4350 is key.  We enter the new trading week holding setups in EXEL, DKNG, and ARLO.  Queue is igniting with new opportunities close to triggering.  We love to see the queue this active.  We expect a busy start to the week as we look to position ourselves for the weeks to come.  We do anticpate volume to dry up a bit as we head closer to the weekend.  We expect many traders will begin their fourth of July break Thursday afternoon / Friday and not return until later next week.  We'll be watching for the heavy volume to be during the first three sessions and then for it to tail off.  Be ready today and let's have a monster week.