I will not be publishing a Daily Technical Strategy report today. Instead, in addition to this Upticks report, please find my Daily Technical Strategy Video update (6/29/2023) below.

The video in this report is only accessible to members
The video in this report is only accessible to members

Update

The 2nd quarter is drawing to a close, with price action having provided a lot more clarity than has been seen in months.  While many fundamentally oriented still harbor concerns about earnings or the endgame for Fed rate hikes, the broadening out of the market which started a month ago cannot be denied.  Technology’s dominance remains a common theme, yet Industrials, Consumer Discretionary, and Financials have turned up sharply in recent weeks.  Moreover, breadth indicators have reflected this broadening and for the first time in months, many have seemingly begun to “throw in the towel” on shorts.  With just a few days left in the month and quarter, NASDAQ 100 index is set to turn in potentially the best performance ever for the first half of a year. 

Importantly, while sentiment has gradually improved over the last month, it remains early to say investors are greedy or complacent, and many institutional investors have refused to capitulate on defensive views.  The market having sudde...

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