6/16/26 Recap

The SPY is just having an inside day so far, nothing to discuss really until we either attempt a break over 760.4 or we turn lower forming a lower high. We’re over the 8 ema so we’re fine for now but we are seeing weakness in semis today and that is pretty much the entire market at the moment. We still have a large gap below to fill and now with the Iran deal out of the way our next major catalyst is the fed meeting soon and what Warsh will do in his tenure. Semis are where the pain is today down nearly 3% Other than that we really have nothing with earnings season still a month out. These are the summer doldrums we face every year.

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