Not much new to report since the market update video published earlier today. The Nasdaq 100 Emini futures basically spend most of the regular trading session backtesting the 60-minute rising wedge pattern from below following the overnight & early morning session breakdown.
NQ 60-min 2 June 18th
Also worth noting is the fact that 4 of the 5 FAAMG stocks; AMZN, GOOGL, MSFT & FB, once again did most of the heavy lifting for the Nasdaq 100 with green closes ranging from +0.48% to +2.10% with AAPL closing slightly red at -0.05%. The effect of the top-heavy FAAMG stocks resulted in a nearly flat close of -0.13% with the equal-weighted Nasdaq 100 closing down nearly 4x that at -0.49% as just over 70% of the NDX components finished the day with losses.
ES 60-min 2 June 18th
ES (S&P 500 Emini futures) closed modestly lower today along with a -0.30%drop in the SPX cash index with 8 of the 11 sectors also closing red. SPY & QQQ both closed above their respective 60-minute primary uptrend lines after reversing off them earlier in the session with the next sell signal in the US markets to come on impulsive breaks and/or 60-minute closes below those trendlines.
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- QQQ 60-min June 18th
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- SPY 60-min June 18th
