Market Momentum: Your Weekly Financial Forecast
Portfolio Pulse from Volumeleaders.com
The U.S. stock market experienced mixed performance during the week of June 24-28, 2024, with technology and energy sectors showing gains while healthcare and financials were mixed. The Federal Reserve hinted at a cautious approach to future rate hikes. Major indices like SPY, QQQ, IWM, and DIA showed varied performance, with some indicating potential for future gains. The upcoming week is expected to have lower-than-average trading volume due to the Independence Day holiday.
July 01, 2024 | 3:02 pm
News sentiment analysis
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NEUTRAL IMPACT
Invesco QQQ Trust showed early week weakness but recovered to test bearish Supertrend levels. The ETF is currently balanced, with potential for higher timeframe continuation if breadth improves.
QQQ experienced early week weakness but recovered, indicating a balanced market. Potential for higher timeframe continuation exists if market breadth improves.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
SPDR S&P 500 ETF showed sideways movement over the past 9 sessions, with institutional levels acting as price magnets. The ETF is expected to remain stable unless significant market changes occur.
The SPY ETF has been moving sideways, indicating a balanced market. Institutional levels are key price magnets, suggesting stability unless there are significant market changes.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SPDR Dow Jones Industrial Average ETF remains bullish with price pausing to move sideways. A move above the 5DMA could indicate more intraday strength.
DIA's bullish thesis remains intact with price pausing to move sideways. A move above the 5DMA could signal more intraday strength.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
iShares Russell 2000 ETF is showing coiling price action, indicating a potential large move. Institutional involvement remains under price, suggesting a preference for longs.
IWM's coiling price action suggests a potential large move. Institutional involvement under price indicates a preference for long positions.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70