Market Analysis and Trades for 7/1
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The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to Market Analysis for The Week Ahead
The market continued framing higher today in that it once again took out a prior day high and did not take out a prior day low. There certainly was limited traction away from Friday’s high until a late day spike up which was (thus far) rejected into the close. Bulls maintain full control, but sellers have a path tomorrow to at least pause this active trend and force some balance. Even if so, balance is not bearish, it is just presumed to be a temporary pause of an active trend into some consolidation.
I did a live stream in the Discord today for a few hours and will plan to do so again tomorrow or Wednesday if possible.
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