Another ATH Weekly Close on Index
Added 2024-06-14 19:32:32 +0000 UTCGreat week! All upside targets were achieved after CPI report. We also hit it big with $ORCL $AVGO $ADBE this week. One of my personal best week this year so far. $SPX closed at another weekly ATH! Over last three weeks we've seen higher highs and lows. A great setup going in to next week right?
Well, not much data next week. Guess what? Fed speakers are back!
Schedule:
M: HARKER 1PM COOK 830PM
TUE:RETAIL SALES 830AM, BARKIN 10AM 20 YEAR BOND 1PM, KUGLER 1PM. GOOLSBEE 2PM
W: MARKET CLOSED
TH: JOBLESS 830AM BARKIN 4PM
F: S&P PMI 945AM
After index have gained 200 points in last two weeks, I think a time for a healthy pull back at least to fill the 537 gap should be on deck. We are hot on the STO's everywhere. Also, Wednesday is a holiday, so prepare for low volume, no news type of environment.
$AAPL was the real show this week, with a gain of 7% on the week and closing well above 200 level and Market Cap over $3T.
For the most part market have brushed off the hawkish stance from FOMC suggesting only one rate cut. But after CPI/PPI this week, market is calling bluff and suggests 2-3 rate cuts starting in September.
$SPY plan attached.
Have a great weekend.
