6/28 Recap

As we head into quarter end, lots of rebalancing going on, combined with chairman Powell speaking today, we had some erratic moves. Powell did not rule out more hikes with potential back to back hikes on the tables he said. We also had the news overnight of the United States potentially looking to ban chip sales to China which sank NVDA,AMD and other chip makers. It’s really more of a national security risk at this point but we will see if they actually follow through and do it, my bet is they don’t. They US always seems terrified of upsetting China and I don’t see this being any different, regardless, the market opened red, with tech stocks leading lower, they reversed up, and then faded back lower to this point.

Today’s candle isn’t the nicest to this point, you can see all the selling that occurred with that big wick above. We are still trending over the 8/10 ema and it’s just stalling out a bit. These sideways moves, 5-6 sessions of it now, just tighten up for a big move whenever it’s time. You can see how much the RSI cooled off the recent highs and the macd is negative, we’re just consolidating here for the moment. Anything over that trendline around 420 remains firmly within the bullish uptrend we’ve been in for the last 9 months.

Trends

Unity flew to the top of this list this week I had noted alot this week already before today because only 1 of these came in today, its +3.5% right now. ASO continues to see more bullish flow, that’s a very small, under the radar name that doesn’t see much so 3 trades of unusual size in a week is quite a bit. These other top trending smaller names like TOL,CCJ,AMKR, and APLD continue to be green in this weak tape.

AMKR is standing out to me its had call buys on back to back days and this name really sees almost nothing.

Week To Date

2 Week

1 Month

Today’s Unusual Options Activity & What Stood Out

111 Trades Today. Interestingly back in yesterday’s recap I noted some calls on XPOF, it was up 20% at the open today but has faded back to 12% now. Those call buyers had some luck stepping in yesterday ;)