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06/30/2023 |

Market Update Into July 3rd: Markets Push Higher

It was a huge week for the bulls, as the indices closed strong across the board. This week marks both the end of the month and the quarter, so it should be exciting to see how things progress into Q3 of 2023! We’ll dig into the individual names below.

Weekly Analysis

This week, the SPY ETF closed at $443.28 (+2.33%), finding some resistance at the $442 call wall. The bullish MACD cross on the monthly time frame is worth keeping an eye on, as it suggests this move could just be getting started.

This is an image of the monthly chart of the SPY index.

This week, the QQQ ETF closed at $369.42 (+1.90%), making it the weakest performer of the three indices. Some resistance was found at the $368 call wall, but much like the SPY, the bullish MACD cross on the monthly chart does suggest this move could just be getting started.

This is an image of the monthly chart of the QQQ index.

This week, the IWM ETF closed at $187.27 (+3.56%), making it the strongest performer of the bunch, breaking through the $180 call wall. MACD is curling up and bulls will be looking for that cross to occur in the weeks to come.

This is an image of the monthly chart of the IWM index.


The weekly market update is written by Jason Krutzky, host of TrendSpider TV


Top Twitter Posts This Week

This is an image of the JPM chart by @tradeoutloud
This is an image of the SPY monthly chart by @the_rocktrading
This is an image of the ETH chart by @casualtywar