{"id":81856,"date":"2026-06-20T21:08:33","date_gmt":"2026-06-21T04:08:33","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=81856"},"modified":"2026-06-20T21:08:34","modified_gmt":"2026-06-21T04:08:34","slug":"spacex-symbolizes-market-tension-the-market-breadth","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2026\/06\/20\/spacex-symbolizes-market-tension-the-market-breadth\/","title":{"rendered":"SpaceX Symbolizes Market Tension &#8211; The Market Breadth"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>The Market Breadth Summary<\/strong><\/h2>\n\n\n\n<div class=\"wp-block-group has-background\" style=\"background-color:#e9f3ff\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<ul class=\"wp-block-list\">\n<li>Market tension persisted as hopes and expectations repeatedly collided with economic, geopolitical, and technical realities.<\/li>\n\n\n\n<li>SpaceX symbolized market tension as investor enthusiasm contrasted with concerns over extreme valuation expectations.<\/li>\n\n\n\n<li>Market breadth remained bearish even has key support has now held since April.<\/li>\n\n\n\n<li>Federal Reserve rhetoric interrupted bullish momentum and reinforced uncertainty surrounding inflation and monetary policy.<\/li>\n\n\n\n<li>The S&amp;P 500 failed to challenge record highs despite favorable geopolitical developments and renewed optimism.<\/li>\n\n\n\n<li>Semiconductor stocks remained strong, while software stocks experienced persistent weakness and deteriorating technical conditions.<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Stock Market Summary<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/en.wikipedia.org\/wiki\/Juneteenth\">Juneteenth<\/a> symbolizes the tension between hopes and dreams and the realities required to achieve them. That same tension was evident across financial markets last week.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The same theme of hopes and dreams contrasting with reality played out in the financial markets this past week. Over the past week, SpaceX (SPCX) symbolized the market tension created by hopes and dreams wrestling with reality. The hopes and dreams of tens of trillions of revenue in just a few years time seems to clash with the reality that such fantastical claims rarely pan out. Yet, the stock is priced for such other worldly expectations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Federal Reserve provided another example of market tensions last week. <a href=\"https:\/\/inflationwatch.drduru.com\/warshs-war-on-inflation-starts-with-jawboning\/\">New Fed Chair Kevin Warsh appeared confident and determined to defeat inflation<\/a>. However, the hopes and dreams of jawboning inflation away clash with the reality that the current entrenched inflation will likely require action to address.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Another example of market tensions comes from the Iran war. A new 60-day ceasefire, aka another end to the war, aka the Strait of Hormuz is open again, raised hopes that the war is finally on a path toward actually ending. While the stock market essentially put the war in the rearview mirror ever since <a href=\"https:\/\/drduru.com\/onetwentytwo\/2026\/04\/13\/buy-dips-psychology-of-post-oversold-trading-the-market-breadth\/\">the first ceasefire in early April<\/a>, traders and investors still seem able to buy positive news at the same time they ignore bad news and setbacks. Last week, the Fed&#8217;s hawkish jawboning interrupted what could have been a fresh rally to all-time highs on news of <a href=\"https:\/\/www.npr.org\/2026\/06\/19\/nx-s1-5863544\/trump-us-iran-agreement\">a more substantial agreement in the war<\/a>. Still, like a broken record, negotiations were almost immediately delayed and Iran reclosed the Strait of Hormuz over displeasure with attacks in Lebanon. Hopes and dreams clash with reality over and over again.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This theme of hopes and dreams colliding with reality looks set to remain with the market over the next several weeks and months. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>S&amp;P 500 (SPY)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The S&amp;P 500 (SPY) continued to struggle with its earlier double-top. The week opened with a clean gap above the double-top line in the wake of news of the latest deal to end the Iran war. Yet, the index was unable to trade higher from there. The negative reaction to a hawkish-sounding Fed took the S&amp;P 500 down 1.2% on Wednesday. The next day the S&amp;P 500 gapped up again, this time in reaction to news of a memorandum of understanding that set the stage for a 60-day timetable to negotiate an end to the war in Iran (yes, that is a mouthful). Still, the index closed right below its former double-top. I am now wary given the S&amp;P 500 was unable to challenge its all-time in the wake of all the good news.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-29.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1509\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-29.png\" alt=\"\" class=\"wp-image-81900\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-29.png 1509w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-29-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-29-1320x805.png 1320w\" sizes=\"auto, (max-width: 1509px) 100vw, 1509px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>S&amp;P 500 (SPY) failed to challenge all-time highs despite an improvement in news. Resistance at the former double top remained important partially thanks to a hawkish-sounding Fed.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\"><strong>NASDAQ (COMPQ)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The NASDAQ (COMPQ) held support at its 50-day moving average (DMA) (the red line) in the previous and last week clung to 20DMA support (the dashed line). Like the S&amp;P 500, the tech-laden index fell short of retesting its all-time high. This stalled momentum also leaves me wary.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-30.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1509\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-30.png\" alt=\"The NASDAQ (COMPQ) held 50DMA support and is now clinging to 20DMA support.\" class=\"wp-image-81902\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-30.png 1509w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-30-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-30-1320x805.png 1320w\" sizes=\"auto, (max-width: 1509px) 100vw, 1509px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>The NASDAQ (COMPQ) held 50DMA support and is now clinging to 20DMA support.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\"><strong>iShares Russell 2000 ETF (IWM)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">IWM stood out as the strongest of the indices on a relative technical basis. The ETF of small caps broke out above its previous double top and even started the week at an all-time high. The 20DMA held firm as support against the Fed&#8217;s jawboning.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-31.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-31.png\" alt=\"The iShares Russell 2000 ETF (IWM) started the week at an all-time high and maintained support at its 20DMA.\" class=\"wp-image-81904\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-31.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-31-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-31-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>The iShares Russell 2000 ETF (IWM) started the week at an all-time high and maintained support at its 20DMA.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><strong>The Short-Term Trading Call With Market Tensions<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>AT50<\/strong>&nbsp;(MMFI)&nbsp;= 53.1% of stocks are trading above their respective 50-day moving averages<\/li>\n\n\n\n<li><strong>AT200<\/strong>&nbsp;(MMTH) = 55.0% of stocks are trading above their respective 200-day moving averages<\/li>\n\n\n\n<li><strong>Short-term Trading Call<\/strong>: neutral<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">AT50 (MMFI), the percentage of stocks trading above their respective 50DMAs, closed the week at 53.1%. My favorite technical indicator demonstrated hopes and dreams versus reality throughout the week and especially on Wednesday&#8217;s Fed day. On Wednesday, AT50 confirmed downtrending resistance for the third straight day and closed right at support around 50%. This support has held relatively firm since news of the first ceasefire on April 8th. This support also represents the hopes and dreams of underlying strength in the stock market. The downtrend is the harsh, ongoing reality that the underlying technicals continue to weaken. At some point soon, maybe in the next few weeks, I expect a big resolution of this convergence of resistance and support.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-1.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-1.png\" alt=\"AT50 (MMFI) held support near 50%. The downtrend line remained in place. Market breadth is setup for a big resolution: breakout or breakdown.\" class=\"wp-image-81858\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-1.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-1-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-1-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>AT50 (MMFI) held support near 50%. The downtrend line remained in place. Market breadth is setup for a big resolution: breakout or breakdown.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">AT200, the percentage of stocks trading above their 200DMAs, closed at 55.0% and remains neutral as it pivots around and under 56.1%. The long-term picture according to the health of market breadth remains stable but inconclusive.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-2.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-2.png\" alt=\"AT200 (MMTH) remained stable. Longer-term technicals stayed neutral.\" class=\"wp-image-81859\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-2.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-2-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-2-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>AT200 (MMTH) remained stable. Longer-term technicals stayed neutral.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">The percentage of S&amp;P 500 stocks trading above their 200DMAs (S5TH) suffered a major setback thanks to the Fed. However, this measure of index breadth held onto support and thus its breakout from the previous week. I am not yet incorporating S5TH in my trading rules, but I am monitoring S5TH&#8217;s dynamics for lessons to learn. Currently, S5TH tells me the S&amp;P 500 is relatively stable.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-3.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-3.png\" alt=\"\" class=\"wp-image-81860\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-3.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-3-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-3-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>The percentage of S&amp;P 500 stocks trading above their 200DMAs (S5TH) held on to its breakout.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">The volatility index (VIX) is doing its own pivot dance. The pre-tariff low from last year remains relevant as a divider between a confirmation of hopes and dreams and a warning pending disruptions.  The VIX tells me that market tensions are muted overall.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-4.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-4.png\" alt=\"\" class=\"wp-image-81861\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-4.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-4-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-4-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\"><strong>In case you missed it&#8230;<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The excitement over SpaceX creates additional contrast with bearish market breadth. Market attention seems even more concentrated now. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Fed started a new era with Kevin Warsh. I created a short video to summarize the highlights. I go into more detail in &#8220;<a href=\"https:\/\/inflationwatch.drduru.com\/warshs-war-on-inflation-starts-with-jawboning\/\" target=\"_blank\" rel=\"noreferrer noopener\">Warsh\u2019s War On Inflation Starts With Jawboning<\/a>.&#8221;<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-9-16 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"SpaceX ($SPCX) Is Taking Off While Market Breadth Can\u2019t Break Out #trading\" width=\"563\" height=\"1000\" src=\"https:\/\/www.youtube.com\/embed\/4JsxJophdWo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-9-16 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Warsh Starts a New Fed Era by Ending the Rate-Cut Story #monetarypolicy\" width=\"563\" height=\"1000\" src=\"https:\/\/www.youtube.com\/embed\/mMYXIIc-5CQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n<\/div>\n<\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Equities<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Space Exploration Technologies Corporation (SPCX)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Space Exploration Technologies Corporation develops rockets, spacecraft, satellite systems, and related space transportation services.<br><strong>Technical status:<\/strong> Space Exploration Technologies Corporation (SPCX) traded higher during the first three sessions and lower during the final two sessions of the week, a setup for an extended trading range as bears and bulls wrestle on hopes, dreams, and reality.<br><strong>Trade commentary:<\/strong> SPCX symbolizes hopes and dreams colliding with reality. I already considered the IPO pricing expensive, so a 50% gain in three days looked ever more excessive to me. On Tuesday, the stock faded sharply from the highs and lost more than 10% from the peak and created an even more ominous looking potential blow-off top. Sellers kept taking profits until the intraday lows on Thursday. Buyers aggressively lifted the stock 7% and minimized the loss to 3.6%. The battle lines of market tension are now redrawn between bulls and bears between $150 and $227. I expect a lot of churn between these levels.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-5.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-5.png\" alt=\"Space Exploration Technologies Corporation (SPCX) traded higher during the first three sessions and lower during the final two sessions of the week, a setup for an extended trading range as bears and bulls wrestle on homes, dreams, and reality.\" class=\"wp-image-81862\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-5.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-5-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-5-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Space Exploration Technologies Corporation (SPCX) traded higher during the first three sessions and lower during the final two sessions of the week, a setup for an extended trading range as bears and bulls wrestle on homes, dreams, and reality.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\"><strong>SPDR Gold Shares (GLD)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong>\u00a0The investment objective of SPDR Gold Trust is for the shares to reflect the performance of the price of gold bullion, less the Trust\u2019s expenses.<br><strong>Technical status:<\/strong>\u00a0The SPDR Gold Shares (GLD) remains bearish and failed perfectly at resistance from the former all-time high after the Fed&#8217;s hawkish jawboning.<br><strong>Trade commentary:<\/strong>\u00a0I remain uninterested in buying GLD. The latest bearish failure is a fresh confirmation of GLD\u2019s blow-off top in January. I will get interested again on a 200DMA breakout. The hopes and dreams of gold bugs have collided with a crushing reality. (Note I am NOT selling my long-term position in RAXX which is heavily invested in physical gold).<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-32.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-32.png\" alt=\"The SPDR Gold Shares (GLD) remains bearish and failed perfectly at resistance from the former all-time high after the Fed's hawkish jawboning.\" class=\"wp-image-81922\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-32.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-32-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-32-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>The SPDR Gold Shares (GLD) remains bearish and failed perfectly at resistance from the former all-time high after the Fed&#8217;s hawkish jawboning.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\"><strong>iShares Silver Trust (SLV)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong>\u00a0iShares Silver Trust is an exchange-traded fund designed to reflect the performance of the price of silver.<br><strong>Technical status:<\/strong>\u00a0The iShares Silver Trust (SLV) suffered a second 200DMA breakdown and is near a continuation of downtrend from its January blow-off top.<br><strong>Trade commentary:<\/strong>\u00a0SLV usually trades with more volatility than GLD. However, its bearish breakdown has been much less dramatic than GLD&#8217;s. I tried one last trade on SLV for it to hold 200DMA support earlier in the month. I will not revisit SLV until it can achieve a 50DMA breakout.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-35.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-35.png\" alt=\"\" class=\"wp-image-81941\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-35.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-35-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-35-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>The iShares Silver Trust (SLV) suffered a second 200DMA breakdown and is near a continuation of downtrend from its January blow-off top.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\"><strong>State Street PDR S&amp;P Retail ETF (XRT)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong>\u00a0SPDR S&amp;P Retail ETF (XRT) tracks the performance of retail companies in the S&amp;P Total Market Index.<br><strong>Technical status:<\/strong>\u00a0The State Street SPDR S&amp;P Retail ETF (XRT) partially recovered from its post-Fed 2.9% pullback on fresh hopes for an end to the Iran war.<br><strong>Trade commentary:<\/strong>\u00a0XRT remains choppy but the near-term trading can provide a lot of signals. XRT responded particularly poorly to the Fed only to turn a dime the next day in the wake of the Iran war news. Oil prices even recovered losses on that day. I am now looking to see whether XRT will follow the gyrations of oil. While XRT held converged support from its 20, 50, and 200DMAs, I do not trust it enough to break out above the double peak around $89 in the short-term.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-33.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-33.png\" alt=\"\" class=\"wp-image-81925\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-33.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-33-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-33-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>The State Street SPDR S&amp;P Retail ETF (XRT) partially recovered from its post-Fed 2.9% pullback on fresh hopes for an end to the Iran war.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Red Robin Gourmet Burgers (RRGB)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Red Robin Gourmet Burgers, Inc. owns and operates casual dining restaurants specializing in burgers and related menu offerings.<br><strong>Technical status:<\/strong> Red Robin Gourmet Burgers (RRGB) broke out above its 200DMA pivot box and gained 23%. The stock completed a bullish reversal after a prolonged decline.<br><strong>Trade commentary:<\/strong> I did not anticipate such a large gain in RRGB, but I will gladly take a 23% breakout. I am still holding my position because the technicals support a continuation of this breakout. RRGB has been crushed over the years and remains far below former highs. I do not expect the company to return to those levels because the restaurant business is in a contraction phase. Still, it is encouraging to see this bearish-to-bullish reversal play out <a href=\"https:\/\/drduru.com\/onetwentytwo\/2026\/06\/14\/fade-from-orbit-the-market-breadth\/\">as I had hoped<\/a>.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-6.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-6.png\" alt=\"Red Robin Gourmet Burgers (RRGB) broke out above its 200DMA pivot box and gained 23%. The stock completed a bullish reversal after a prolonged decline.\" class=\"wp-image-81863\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-6.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-6-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-6-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Red Robin Gourmet Burgers (RRGB) broke out above its 200DMA pivot box and gained 23%. The stock completed a bullish reversal after a prolonged decline.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">McDonalds Corporation (MCD)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> McDonald&#8217;s Corporation operates and franchises quick-service restaurants around the world.<br><strong>Technical status:<\/strong> McDonald&#8217;s Corporation (MCD) peaked in February and has been trending lower. Its 50DMA continued to act as resistance, and the stock underperformed on Friday with a 1.8% loss.<br><strong>Trade commentary:<\/strong> While some casual dining names rallied, MCD continued to struggle. Its 50DMA has consistently blocked upside progress, and I am treating that resistance level as an important barrier. The stock is a short below $272 and a buy above $290.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-7.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-7.png\" alt=\"McDonald's Corporation (MCD) peaked in February and has been trending lower. Its 50DMA continued to act as resistance, and the stock underperformed on Friday with a 1.8% loss.\" class=\"wp-image-81864\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-7.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-7-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-7-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>McDonald&#8217;s Corporation (MCD) peaked in February and has been trending lower. Its 50DMA continued to act as resistance, and the stock underperformed on Friday with a 1.8% loss.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">CarMax, Inc. (KMX)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> CarMax, Inc. operates used vehicle dealerships and provides related financing and automotive services.<br><strong>Technical status:<\/strong> CarMax, Inc. (KMX) sold off following earnings before reversing sharply. The stock recovered all of the post-earnings losses and advanced another 13.1%.<br><strong>Trade commentary:<\/strong> I thought I would have plenty of time to buy KMX at lower prices after the post-earnings decline. I expected a test of 200DMA support, but an analyst upgrade changed the picture and front-ran my plans. Since I did not want to miss a continued rally, I entered a hedged position using calls and puts (1 July $50 put and 3 July $57.50 calls). If KMX keeps climbing, I should participate in the upside. If the stock pulls back, I should still have enough profit to offset the calls while buying shares at the lower prices that I want.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-8.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-8.png\" alt=\"CarMax, Inc. (KMX) sold off following earnings before reversing sharply. The stock recovered all of the post-earnings losses and advanced another 13.1%.\" class=\"wp-image-81866\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-8.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-8-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-8-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>CarMax, Inc. (KMX) sold off following earnings before reversing sharply. The stock recovered all of the post-earnings losses and advanced another 13.1%.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Roblox Corporation (RBLX)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Roblox Corporation operates an online platform that enables users to create and play immersive digital experiences.<br><strong>Technical status:<\/strong> Roblox Corporation (RBLX) completed a breakout above a bottoming formation and moved above its 50DMA after gaining 7.3%.<br><strong>Trade commentary:<\/strong> I have suffered through this position for a while, so I am happy to see the stock finally turning higher. The breakout above the bottoming box (see below) looks like confirmation that a low is in place. I am even considering buying additional shares in the coming week.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-9.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-9.png\" alt=\"Roblox Corporation (RBLX) completed a breakout above a bottoming formation and moved above its 50DMA after gaining 7.3%.\" class=\"wp-image-81868\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-9.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-9-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-9-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Roblox Corporation (RBLX) completed a breakout above a bottoming formation and moved above its 50DMA after gaining 7.3%.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">LGI Homes, Inc. (LGIH)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> LGI Homes, Inc. designs, builds, and sells single-family homes across the United States.<br><strong>Technical status:<\/strong> LGI Homes, Inc. (LGIH) continued trending higher from the March lows and approached resistance near $61.<br><strong>Trade commentary:<\/strong> I keep a close eye on LGIH because it has been one of the worst-performing homebuilders in my universe and carries significant debt. Despite those challenges, the stock has held up well. If LGIH can clear $63, perhaps it can return to its former momentum. Still, homebuilders have been difficult for the last two years, and <a href=\"https:\/\/drduru.com\/onetwentytwo\/2026\/06\/03\/what-happened-in-the-housing-market-no-escape-velocity\/\">the latest data offers little to no respite<\/a>.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-10.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-10.png\" alt=\"LGI Homes, Inc. (LGIH) continued trending higher from the March lows and approached resistance near $61.\" class=\"wp-image-81870\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-10.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-10-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-10-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>LGI Homes, Inc. (LGIH) continued trending higher from the March lows and approached resistance near $61.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\"><strong>VanEck Semiconductor ETF (SMH)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> The VanEck Semiconductor ETF (SMH) is an exchange-traded fund that seeks to track the performance of companies involved in semiconductor production and equipment.<br><strong>Technical status:<\/strong> VanEck Semiconductor ETF (SMH) reached a new all-time high. Earlier choppiness in June did not disrupt the uptrend, and the ETF held support at its 20DMA.<br><strong>Trade commentary:<\/strong> The chart says everything. Semiconductors remain one of the most bullish areas in the market, or at least within technology. SMH experienced some choppiness earlier in June, but its 20DMA held as support.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-21.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-21.png\" alt=\"VanEck Semiconductor ETF (SMH) reached a new all-time high. Earlier choppiness in June did not disrupt the uptrend, and the ETF held support at its 20DMA.\" class=\"wp-image-81887\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-21.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-21-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-21-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em><strong><em>VanEck Semiconductor ETF (SMH) reached a new all-time high. Earlier choppiness in June did not disrupt the uptrend, and the ETF held support at its 20DMA.<\/em><\/strong><\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\">Roundhill DRAM ETF (DRAM)<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> The Roundhill DRAM ETF is an exchange-traded fund that provides exposure to companies involved in memory semiconductor technologies and related industries.<br><strong>Technical status:<\/strong> Roundhill DRAM ETF (DRAM) experienced a blowoff top and followed through with a pullback, but the 20DMA held firmly as support. The ability of the ETF to maintain support reflected persistent buying pressure.<br><strong>Trade commentary:<\/strong> I earlier pointed out the blowoff top, but I was never interested in shorting DRAM because the memory-chip sector was simply too hot. When the near inevitable breakout pulled back to the blowoff-top line and held, I bought in. All of the choppiness made me nervous, and I took profits when DRAM jumped 13.15%. Thus, I missed out on the continuing rally. That is how trading goes. You win some, and sometimes you could have won more.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-22.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-22.png\" alt=\"Roundhill DRAM ETF (DRAM) experienced a blowoff top and followed through with a pullback, but the 20-day moving average held firmly as support. The ability of the ETF to maintain support reflected persistent buying pressure.\" class=\"wp-image-81888\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-22.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-22-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-22-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Roundhill DRAM ETF (DRAM) experienced a blowoff top and followed through with a pullback, but the 20-day moving average held firmly as support. The ability of the ETF to maintain support reflected persistent buying pressure.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Intel Corporation (INTC)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Intel Corporation designs and manufactures semiconductors and related computing technologies.<br><strong>Technical status:<\/strong> Intel Corporation (INTC) reached a new all-time high after a 10.6% gain. The stock continued benefiting from strong news flow.<br><strong>Trade commentary:<\/strong> <a href=\"https:\/\/drduru.com\/onetwentytwo\/tag\/intc\/\">I have talked extensively about INTC<\/a>. I recently promised myself I would stay disciplined and thus managed two successful trades. However, I still managed to miss the most recent opportunity because I wanted to see the 20DMA hold as support and failed to jump at the next day gain. I recognize that INTC carries a very high valuation, but the news flow has been too strong to ignore. Accordingly, I am determined to return to my disciplined approach and take every opportunity I can in INTC.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-11.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-11.png\" alt=\"Intel Corporation (INTC) reached a new all-time high after a 10.6% gain. The stock continued benefiting from strong news flow.\" class=\"wp-image-81871\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-11.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-11-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-11-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Intel Corporation (INTC) reached a new all-time high after a 10.6% gain. The stock continued benefiting from strong news flow.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Hewlett Packard Enterprise Company (HPE)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Hewlett Packard Enterprise Company provides enterprise computing, networking, storage, and software solutions.<br><strong>Technical status:<\/strong> Hewlett Packard Enterprise Company (HPE) faded from its post-earnings highs and retraced related gains. The stock approached 20DMA support.<br><strong>Trade commentary:<\/strong> I entered an HPE call spread when the stock approached its 20DMA support on Wednesday. I plan to hold the position and would like to buy shares if the stock declines further. The entire post-earnings gain has disappeared, so the setup could turn bearish. I will continue monitoring HPE closely.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-12.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-12.png\" alt=\"Hewlett Packard Enterprise Company (HPE) faded from its post-earnings highs and retraced related gains. The stock approached 20DMA support.\" class=\"wp-image-81872\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-12.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-12-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-12-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Hewlett Packard Enterprise Company (HPE) faded from its post-earnings highs and retraced related gains. The stock approached 20DMA support.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Vertiv Holdings Co (VRT)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Vertiv Holdings Co provides power, cooling, and infrastructure solutions for data centers and communication networks.<br><strong>Technical status:<\/strong> Vertiv Holdings Co (VRT) reclaimed its 50DMA and showed improving momentum with an upward-curving upper Bollinger Band.<br><strong>Trade commentary:<\/strong> While <a href=\"https:\/\/drduru.com\/onetwentytwo\/2026\/04\/19\/no-dips-allowed-fomo-market-rips-to-overbought-territory-the-market-breadth\/\">I took profits on a long-term position in VRT, I continue watching it as a key tell for the AI trade<\/a>. I saw a prime trading opportunity when the stock tested its 50DMA support in late May. I still managed to miss the setup and ended up chasing the bounce. That day confirmed 20DMA resistance. When VRT retested 50DMA support, I added shares. I held firm even as the stock slipped into a 50DMA breakdown. That stubbornness paid off as VRT ended last week with a 50DMA breakout. While VRT looks as bullish as ever, I am still treating my position like a swing trade.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-13.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-13.png\" alt=\"Vertiv Holdings Co (VRT) reclaimed its 50DMA and showed improving momentum with an upward-curving upper Bollinger Band.\" class=\"wp-image-81874\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-13.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-13-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-13-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Vertiv Holdings Co (VRT) reclaimed its 50DMA and showed improving momentum with an upward-curving upper Bollinger Band.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Cerebras Systems Inc (CBRS)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Cerebras Systems develops artificial intelligence computing systems and specialized semiconductor hardware designed for large-scale AI workloads.<br><strong>Technical status:<\/strong> Cerebras Systems Inc. (CBRS) completed a bearish-to-bullish reversal.<br><strong>Trade commentary:<\/strong> I am no longer bearish on CBRS. The stock completed a bearish-to-bullish reversal. Analyst initiations triggered an 18.3% rally on June 8, but sellers quickly erased those gains. Buyers stepped back in after the pullback and defended the all-time low short of the $185 IPO price. CBRS recovered from a post-Fed fade from 20DMA resistance and resumed its bounce on Thursday with a 9.9% gain.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-14.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-14.png\" alt=\"\" class=\"wp-image-81876\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-14.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-14-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-14-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Cerebras Systems Inc. (CBRS) completed a bearish-to-bullish reversal.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Caterpillar Inc. (CAT)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Caterpillar Inc. manufactures construction and mining equipment, diesel and natural gas engines, and industrial turbines.<br><strong>Technical status:<\/strong> Caterpillar Inc. (CAT) entered a mild parabolic advance and approached the psychologically important 1,000 level.<br><strong>Trade commentary:<\/strong> I have been <a href=\"https:\/\/drduru.com\/onetwentytwo\/2025\/12\/21\/is-market-ready-to-end-year-positively-the-market-breadth\/\">bullish on CAT for some time<\/a>, and I probably should have simply bought shares and held them. I do own an industrial ETF with exposure to CAT, but the gains have not matched owning the stock directly. I am not expecting a dramatic pullback, but I am looking to buy the near inevitable cooling from last week&#8217;s parabolic move. Note CAT is approaching the psychologically important $1000 level.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-15.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1509\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-15.png\" alt=\"\" class=\"wp-image-81878\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-15.png 1509w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-15-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-15-1320x805.png 1320w\" sizes=\"auto, (max-width: 1509px) 100vw, 1509px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Caterpillar Inc. (CAT) entered a mild parabolic advance and approached the psychologically important 1,000 level.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\"><strong>iShares Expanded Tech-Software Sector ETF (IGV)<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong>\u00a0The iShares Expanded Tech-Software Sector ETF tracks U.S.\u00a0<a href=\"https:\/\/drduru.com\/onetwentytwo\/2026\/05\/31\/retail-software-rally-in-market-breadths-shadow-the-market-breadth\/#\">\u00a0software<\/a>\u00a0and technology companies.<br><strong>Technical status:<\/strong>\u00a0The iShares Expanded Tech-Software ETF (IGV) is trying to cling to 50DMA support after a rapid collapse from a parabolic 200DMA breakout.<br><strong>Trade commentary:<\/strong>\u00a0IGV failed to hold its support levels following a 2-day parabolic surge, with the subsequent sharp pullback erasing the entire gain from that move and dropping further. The recent selling is sector-wide and buyers appear exhausted as semiconductor stocks and SpaceX absorb much of the interest in tech. I am skeptical about the prospects for a near-term recovery and am bracing for a potential retest of recent lows given the extremely poor performance of underlying software stocks.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-34.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-34.png\" alt=\"The iShares Expanded Tech-Software ETF (IGV) is trying to cling to 50DMA support after a rapid collapse from a parabolic 200DMA breakout.\" class=\"wp-image-81927\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-34.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-34-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-34-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>The iShares Expanded Tech-Software ETF (IGV) is trying to cling to 50DMA support after a rapid collapse from a parabolic 200DMA breakout.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">International Business Machines Corporation (IBM)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> International Business Machines Corporation provides software, consulting, infrastructure, and technology services.<br><strong>Technical status:<\/strong> International Business Machines Corporation (IBM) fell sharply and barely held support at its 50DMA.<br><strong>Trade commentary:<\/strong> I had been very enthusiastic about IBM and the potential durability of the quantum story. Unfortunately, software weakness dragged the stock lower and erased much of the previous advance. This setback reminded me of the perils of sticking by a long-term narrative even when the short-term technicals would have motivated me preserve remaining profits in a swing trade.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-16.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-16.png\" alt=\"International Business Machines Corporation (IBM) fell sharply and barely held support at its 50DMA.\" class=\"wp-image-81879\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-16.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-16-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-16-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>International Business Machines Corporation (IBM) fell sharply and barely held support at its 50DMA.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Accenture plc (ACN)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Accenture plc provides consulting, technology, and outsourcing services to businesses and governments.<br><strong>Technical status:<\/strong> Accenture plc (ACN) suffered an 18% post-earnings decline and recorded its largest one-day loss ever.<br><strong>Trade commentary:<\/strong> I had hoped the generative AI business would deliver the kind of results investors wanted, but the market clearly disagreed. I am grateful <a href=\"https:\/\/drduru.com\/onetwentytwo\/2026\/02\/16\/market-is-thrashing-fragmentation-is-getting-dangerous-the-market-breadth\/\">I let the bearish technicals take me out of the stock 4 months ago<\/a>. This 9-year low in ACN makes me disinterested in the stock; it has a lot of repair ahead before I can get interested again.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-17.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-17.png\" alt=\"Accenture plc (ACN) suffered an 18% post-earnings decline and recorded its largest one-day loss ever.\" class=\"wp-image-81881\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-17.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-17-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-17-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Accenture plc (ACN) suffered an 18% post-earnings decline and recorded its largest one-day loss ever.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Gartner, Inc. (IT)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Gartner, Inc. provides research, advisory, and consulting services to businesses and technology organizations.<br><strong>Technical status:<\/strong> Gartner, Inc. (IT) broke down sharply along with software and consulting-related stocks. The stock lost support and continued to weaken near a 6-year low.<br><strong>Trade commentary:<\/strong> I had hoped that AI-related spending and digital transformation themes would provide support for IT, but the stock has been unable to resist the broad selling pressure. The technical picture has deteriorated, and I am treating the weakness with caution. IT benefited from the software surge with a 10.7% gain on June 1. I decided to forego taking profits, but I am back in the red now. For now, I continue to assume Gartner will figure things out as they have made a major pivot into AI-related research and initiatives.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-18.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-18.png\" alt=\"Gartner, Inc. (IT) broke down sharply along with software and consulting-related stocks. The stock lost support and continued to weaken near a 6-year low.\" class=\"wp-image-81882\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-18.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-18-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-18-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Gartner, Inc. (IT) broke down sharply along with software and consulting-related stocks. The stock lost support and continued to weaken near a 6-year low.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Adobe Inc. (ADBE)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Adobe Inc. provides software for digital media creation, marketing, and document management.<br><strong>Technical status:<\/strong> Adobe Inc. (ADBE) continued to struggle after a 7.3% post-earnings loss. Previous support levels failed to generate sustained buying interest, and the stock is now at an 8-year low.<br><strong>Trade commentary:<\/strong> ADBE is another example where the chart matters more than my hopes and dreams. Until the technical picture improves, I am keeping expectations subdued. ADBE is stuck in a deep, deep secular decline, and this decline is helping maintain a drag on IGV.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-19.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-19.png\" alt=\"Adobe Inc. (ADBE) continued to struggle after a 7.3% post-earnings loss. Previous support levels failed to generate sustained buying interest, and the stock is now at an 8-year low.\" class=\"wp-image-81884\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-19.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-19-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-19-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Adobe Inc. (ADBE) continued to struggle after a 7.3% post-earnings loss. Previous support levels failed to generate sustained buying interest, and the stock is now at an 8-year low.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">MongoDB (MDB)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> MongoDB develops a database platform that provides tools for building and managing applications using document-oriented databases.<br><strong>Technical status:<\/strong> MongoDB (MDB) surged 20.4% in sympathy with the final wave of buying across software stocks. MDB gave back the entire post-earnings rally, but the stock held 200DMA support.<br><strong>Trade commentary:<\/strong> MDB surged 20.4% two days after a 10.6% post-earnings jump. The stock benefited from the final wave of buying across software stocks on June 1st. MDB gave back these gains, but the stock held 200DMA support three times despite the persistent weakness in software stocks. The stock is on my buying list for the coming week if it continues higher from here.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-20.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-20.png\" alt=\"MongoDB (MDB) surged 20.4% in sympathy with the final wave of buying across software stocks. MDB gave back the entire post-earnings rally, but the stock held 200DMA support.\" class=\"wp-image-81885\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-20.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-20-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-20-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>MongoDB (MDB) surged 20.4% in sympathy with the final wave of buying across software stocks. MDB gave back the entire post-earnings rally, but the stock held 200DMA support.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Financial Select Sector SPDR Fund (XLF)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> The Financial Select Sector SPDR Fund (XLF) is an exchange-traded fund that tracks large U.S. financial companies.<br><strong>Technical status:<\/strong> Financial Select Sector SPDR Fund (XLF) went on a strong run extending above its upper Bollinger Band before stalling at key resistance.<br><strong>Trade commentary:<\/strong> XLF caught my interest again because of its recent rally, but I am now on the fence. I do not know whether financials are signaling more upside for the stock market or confirming churn ahead. I always say that I cannot be bearish when financials are bullish (and vice versa), but right now the picture is mixed.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-23.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-23.png\" alt=\"Financial Select Sector SPDR Fund (XLF) went on a strong run extending above its upper Bollinger Band before stalling at key resistance.\" class=\"wp-image-81890\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-23.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-23-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-23-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Financial Select Sector SPDR Fund (XLF) went on a strong run extending above its upper Bollinger Band before stalling at key resistance.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">SoFi Technologies (SOFI)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> SoFi Technologies provides digital financial services, including lending, banking, investing, and financial management products.<br><strong>Technical status:<\/strong> SoFi Technologies (SOFI) held its recent lows as the company&#8217;s CEO continues to load up on stock.<br><strong>Trade commentary:<\/strong> I simply cannot ignore the aggressive insider buying from the CEO (see the chart below). The CEO has been purchasing shares in large blocks. While insider purchases sometimes fail as a bullish indicator, this amount of buying by the top person in the company is too significant for me to overlook. Accordingly, I have been accumulating shares alongside the insider buys. If SOFI turns around, there is large potential upside. SOFI was trading around 32 not too long ago.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-24.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-24.png\" alt=\"SoFi Technologies (SOFI) held its recent lows as the company's CEO continues to load up on stock.\" class=\"wp-image-81892\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-24.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-24-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-24-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>SoFi Technologies (SOFI) held its recent lows as the company&#8217;s CEO continues to load up on stock.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Robinhood Markets (HOOD)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Robinhood Markets operates a financial services platform that offers brokerage, cryptocurrency, and related financial products.<br><strong>Technical status:<\/strong> Robinhood Markets (HOOD) held support at its 50DMA before its 200DMA breakout.<br><strong>Trade commentary:<\/strong> <a href=\"https:\/\/drduru.com\/onetwentytwo\/2026\/05\/31\/retail-software-rally-in-market-breadths-shadow-the-market-breadth\/\">HOOD played out exactly as I had hoped after its late May surge<\/a>. Yet, because I neglected to set up the accompanying price alerts, I completely missed the buying opportunity. Now the stock is enjoying a confirmed 200DMA breakout despite announcing layoffs. A lot of discussion around perpetual futures appears to have helped HOOD avoid getting pulled down by the renewed weakness in crypto. I am now looking to see whether HOOD can defend 200DMA support before I consider getting back into the stock.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-25.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-25.png\" alt=\"Robinhood Markets (HOOD) held support at its 50DMA before its 200DMA breakout.\" class=\"wp-image-81894\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-25.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-25-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-25-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Robinhood Markets (HOOD) held support at its 50DMA before its 200DMA breakout.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\">Strategy, Inc (MSTR)<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Strategy Incorporated (MSTR) provides business intelligence software and holds Bitcoin as a core treasury asset.<br><strong>Technical status:<\/strong> Strategy (MSTR) fell sharply for three consecutive sessions and challenged the lows established in February.<br><strong>Trade commentary:<\/strong> MSTR is not surviving the latest pullback in crypto, especially the weakness in Bitcoin. There is still a lot of air underneath the stock, and additional downside remains possible. Ultimately, how the company manages its Bitcoin holdings will determine what happens next. June&#8217;s selloff started with a panic about the company selling holdings despite their insistence they would never sell. <a href=\"https:\/\/seekingalpha.com\/news\/4601388-investors-welcome-strategys-101m-bitcoin-buy-shares-recover-from-recent-dip\">They next turned around and went right back to selling shares in exchange for more Bitcoin<\/a>. All those purchases are now underwater.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-26.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-26.png\" alt=\"Strategy (MSTR) fell sharply for three consecutive sessions and challenged the lows established in February.\" class=\"wp-image-81895\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-26.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-26-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-26-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Strategy (MSTR) fell sharply for three consecutive sessions and challenged the lows established in February.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Huntington Ingalls Industries (HII)<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Huntington Ingalls Industries designs and builds military ships and provides defense-related services for the U.S. government.<br><strong>Technical status:<\/strong> Huntington Ingalls Industries (HII) dropped 3.9% and reached a new low not seen since October of last year.<br><strong>Trade commentary:<\/strong> <a href=\"https:\/\/drduru.com\/onetwentytwo\/2025\/10\/25\/next-market-melt-up-big-winners-and-sorry-stragglers-the-market-breadth\/\">I made the case for HII last October<\/a>. The stock went on a surprising run from there as a breakout rapidly expanded. However, I took profits on a high-volume 50DMA breakdown in March. The stock never looked up again from there. Now, HII has completely reversed its breakout and looks set to trade even lower. Friday&#8217;s high volume 3.9% loss further confirms the bearish implications of the stock&#8217;s 10.3% post-earnings loss that created a 200DMA breakdown. I have yet to spend time understanding how the fundamentals changed so rapidly, but this case is another example of how the technicals reveal sufficient information.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-27.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-27.png\" alt=\"Huntington Ingalls Industries (HII) dropped 3.9% and reached a new low not seen since October of last year.\" class=\"wp-image-81896\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-27.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-27-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-27-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Huntington Ingalls Industries (HII) dropped 3.9% and reached a new low not seen since October of last year.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\">Lockheed Martin (LMT)<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Description:<\/strong> Lockheed Martin develops and manufactures aerospace and defense systems for military and government customers.<br><strong>Technical status:<\/strong> Lockheed Martin (LMT) fell 4% from a resistance area that I had been using as a short entry point.<br><strong>Trade commentary:<\/strong> I went short LMT based purely on the technical setup. The trade was not a thematic one. The recent weakness has been somewhat fortuitous for the position. Since the stock peaked with the eruption of the Iran war, I cannot fully attribute Friday&#8217;s follow-through selling as a result of the latest deal on the war.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-28.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1510\" height=\"920\" src=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-28.png\" alt=\"Lockheed Martin (LMT) fell 4% from a resistance area that I had been using as a short entry point.\" class=\"wp-image-81898\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-28.png 1510w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-28-768x468.png 768w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2026\/06\/image-28-1320x804.png 1320w\" sizes=\"auto, (max-width: 1510px) 100vw, 1510px\" \/><\/a><figcaption class=\"wp-element-caption\"><strong><em>Lockheed Martin (LMT) fell 4% from a resistance area that I had been using as a short entry point.<\/em><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<h2 id=\"footnotes\" class=\"wp-block-heading\"><strong>Footnotes<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/drduru.com\/onetwentytwo\/subscribe-free\/\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe for free<\/a> to get email notifications of future posts!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Above the 50&#8221; (AT50) uses the percentage of stocks trading above their respective 50-day moving averages (DMAs) to measure breadth in the stock market. Breadth defines the distribution of participation in a rally or sell-off. As a result, AT50 identifies extremes in market sentiment that are likely to reverse. Above the 50 is my alternative name for &#8220;MMFI&#8221; which is a symbol TradingView.com and other chart vendors use for this breadth indicator. Learn more about AT50 on my <a href=\"https:\/\/drduru.com\/onetwentytwo\/about\/t2108-resource-page\/\">Market Breadth Resource Page<\/a>. AT200, or MMTH, measures the percentage of stocks trading above their respective 200DMAs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Active AT50 (MMFI) periods<\/strong>: Day #228 over 20%, Day #55 over 30%, Day #51 over 40%, Day #6 over 50% (overperiod), Day #28 under 60%, Day #201 under 75%<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source for charts unless otherwise noted: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>TradingView.com<\/strong><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Full disclosure:<\/strong> long IWM shares, long IGV, long RRGB, long HPE call options, long VRT, long IT, long SOFI, short LMT<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>FOLLOW Dr. Duru&#8217;s commentary on financial markets via <a href=\"https:\/\/stocktwits.com\/DrDuru\" target=\"_blank\" rel=\"noreferrer noopener\">StockTwits<\/a>, <a href=\"https:\/\/bsky.app\/profile\/drduru.bsky.social\" target=\"_blank\" rel=\"noreferrer noopener\">BlueSky<\/a>, and even <a href=\"https:\/\/www.instagram.com\/ahan.analytics\/\" target=\"_blank\" rel=\"noreferrer noopener\">Instagram<\/a>!<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">*Charting notes: Stock prices are not adjusted for dividends. Candlestick charts use hollow bodies: open candles indicate a close higher than the open, filled candles indicate an open higher than the close.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">* Blog notes: this blog was partially written based on the heavily edited transcript of the following video that includes a live review of the stock charts featured in this post. I used ChatGPT to process the transcript.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"SpaceX Symbolizes Market Tensions - The Market Breadth #stockmarket\" width=\"1200\" height=\"675\" src=\"https:\/\/www.youtube.com\/embed\/7Qpj-binflk?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Market Breadth Summary The Stock Market Summary Juneteenth symbolizes the tension between hopes and dreams and the realities required to achieve them. That same tension was evident across financial markets last week. The same theme of hopes and dreams contrasting with reality played out in the financial markets this past week. Over the past &#8230; <a title=\"SpaceX Symbolizes Market Tension &#8211; The Market Breadth\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2026\/06\/20\/spacex-symbolizes-market-tension-the-market-breadth\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":81907,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3252,368,1862,199,1974,1079,1054,220,1576,548,219,35,43,90,1312,338,796,1311,4051],"tags":[3681,1192,428,3401,2832,3694,64,63,4036,4035,2201,4029,3387,200,4048,3844,2922,2460,3846,399,2696,222,2963,400,4047,2218,431,3383,909,1855,1450,1449,4054,4056,1413,3329,2067,2369,1725,413,2955,2388,2921,3035,4031,1863,65,4043,354,2077,2868,2867,4052,284,362,3911,3886,4055,2992,3471,303,931,3469,311,282],"class_list":["post-81856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence","category-automotive","category-business-services","category-commodities","category-cryptocurrency-forex","category-defense","category-dining","category-earnings","category-entertainment","category-financials","category-high-tech","category-housing","category-industrial-sector","category-inflation","category-manufacturing-2","category-retail","category-semiconductors","category-software","category-space","tag-accenture-plc","tag-acn","tag-adbe","tag-adobe-inc","tag-at50","tag-carmax-inc","tag-cat","tag-caterpillar-inc","tag-cbrs","tag-cerebras-systems-inc","tag-compq","tag-dram","tag-gartner-inc","tag-gld","tag-hewlett-packard-enterprise-company","tag-hii","tag-hood","tag-hpe","tag-huntington-ingalls-industries-inc","tag-ibm","tag-igv","tag-intc","tag-intel-corporation","tag-international-business-machines-corporation","tag-ishares-expanded-tech-software-etf","tag-ishares-russell-2000-etf","tag-ishares-silver-trust-etf","tag-it","tag-iwm","tag-kmx","tag-lgi-homes","tag-lgih","tag-lmt","tag-lockheed-martin-corporation","tag-mcd","tag-mcdonalds-corporation","tag-mdb","tag-mongodb","tag-mstr","tag-nasdaq","tag-rblx","tag-red-robin-gourmet","tag-robinhood-markets-inc","tag-roblox-corporation","tag-roundhill-memory-etf","tag-rrgb","tag-sp-500","tag-s5th","tag-slv","tag-smh","tag-sofi","tag-sofi-technologies-inc","tag-spcx","tag-spdr-gold-shares","tag-spy","tag-state-street-financial-select-sector-spdr-etf","tag-state-street-spdr-sp-retail-etf","tag-strategy-inc","tag-vaneck-semiconductor-etf","tag-vertiv-holdings-llc","tag-vix","tag-volatility-index","tag-vrt","tag-xlf","tag-xrt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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