Optuma

To request a free demo of our advanced charting and analysis software see here: optuma.com/trial/

Looking at $SPX sectors comparing April/May performance (Y-axis) vs. post-May 30th performance (X-axis). $XLK was the undisputed leader (+49.8%) in the spring, but since then it's lagging in last place (-5.46%).

For the second consecutive week, there were >100 SPX stocks advancing (318) than declining (184):

@fxevolution Largest negative swing (-13.5) for the Bulls since Sept 2021:

Woah, this has to be a multi year record. The drop in bulls for the latest AAII sentiment survey is wild, 13.5 point swing from bullish to neutral/bearish in just a week.

I’ve had a few people ask about the candle colors on my charts. They are part of my Gann Swing Rank Color System. Instead of staring at dozens of indicators, I combine just two things: • Trend • Swing That instantly tells me whether I’m looking to buy strength, buy a pullback, build a watchlist, or simply stay away. The whole point is to make decision-making faster and remove as much subjectivity as possible. The best systems simplify the decision. They don’t complicate it. @Optuma

This was the biggest weekly drop in AAII Bulls (-13.5 to 31.4) since Sept 2021. After 1 week of being positive, the Bull-Bear spread is -10.9:

$XLV had its best June ever (+6.15%, avg 0.3%) and made an ATH. Worst June and (1st negative) since 2022 for $SPX:

$GOOGL represents only 4% of the price-weighted Dow Jones Industrial index, but 16% by market cap. $NVDA is 2.25% vs 18%, and $GS 11.6% vs 1.15%. How long will $NKE stay?

8 of the 10 biggest stocks closed lower for June, with $MSFT having its worst month (-17%) since December 2000. Only $LLY & $MU closed higher, both at all-time monthly highs.

Last week's AAII Bull/Bear spread turned positive after 5 negative weeks. Highest number of Bulls (44.9) since end of April:

@OddStats And there were more SPX stocks advancing every day than declining...

For only the second time ever ▪ SPX just had 5 negative days in a row ▪ With the final 3 days barely moving ▪ [All 3 closes within 0.25% of each other] When was the other time it happened? 62 FUCKING YEARS AGO. I'd tell you how SPX did after that week but we lost the records when the Library of Alexandria burned down.

Make that every day this week. The $SPX lost 2% on the week but 332 stocks closed higher, resulting in a new high for the weekly cumulative Advance/Decline line:

The 1st time that the $SPX has closed lower for 4 straight days with more stocks advancing then declining on every day:

26 $SPX stocks closed at 52-week highs today, and 18 of those were new all-time highs. 8 hit 52-week lows, including a 12-year low for $NKE.

$SPCX is now trading below its volume-weighted average price ($180.35 since listing). $CBRS also listed recently and has never closed above its AVWAP of $268 (or its 1st day open).

Investing Update: The June Swoon? Charts from @charliebilello @MikeZaccardi @granthawkridge @DualityResearch @TheChartReport @Optuma @VandaTrack @i3_invest @KevRGordon @dailychartbook @SergeyCYW @HostileCharts @KobeissiLetter @RyanDetrick @AlmanacTrader @eWhispers @Ritholtz @mauraball spilledcoffee.substack.com/p/investing-up…

More $SPX losers (322) than winners (180) in this shortened week despite the index closing almost 1% higher.

$CPB (-24% YTD) has been a member of $SPX since 1957, but on Monday will be replaced by $MRVL (+265% YTD). With $FLEX also being added, the tech sector will be increasing its market cap by $300B to $25T (about 38% of the $SPX).

$SPX closed +1% today, but inside of Wednesday's bar. Below is the avg performance over the next 21 trading days for the 75 times that has happened since 1990. Momentum fizzles for the next 9 days before rallying again, closing +0.6% higher 65% of the time a month later.

The net @AAIISentiment spread narrowed this week to -2.8 as Bulls bounce to a 1-month high (36.6%) and Bears drop to 39.4%. Still negative for 5th straight week, but the momentum may be shifting.