Mohamed EL-Hawary retweetledi
TRADING PLAN GOING INTO JUNE + THE DAY-COUNT TRADING SYSTEM + $TSLA A CRITICAL TEST
Markets enter June with momentum still firmly intact, despite growing calls for a pullback.
The key question now is not whether the market is “too high,” but whether major indexes can continue holding recent breakout levels and building above them.
As long as the price remains above key support and the 21-day, the trend deserves respect.
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The key level for the $SPY is $758.08, which marked Friday's high. The market's next move depends on whether it can hold above this breakout area and continue building higher.
If $SPY cannot maintain these gains, a pullback toward the 8-day becomes more likely. You should be trimming into strength rather than aggressively adding exposure here.
The same framework applies to $QQQ. $741.63 is an important reference point now.
The question is whether $QQQ can continue holding above the recent gap support.
Again, let price action dictate positioning. The market will eventually rest and retrace, but the charts will usually provide evidence before the headlines do.
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I also cover the Day-Count Trading System extensively.
The highest-probability entries typically occur on Day 1, when a stock reclaims moving averages, breaks a trend line, or produces an “igniting bar” capable of launching a new move.
Day 2 often offers an opportunity to add exposure as momentum builds.
By Day 3, however, traders should generally be taking profits rather than initiating fresh positions.
Recent breakouts in $MSFT, $PLTR, $NOW, and $ORCL provided textbook examples of this process in action.
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Finally, I am still watching $TSLA this week. The key level now is $428.
If #TSLA can hold above that area and regain momentum, it could become a faster-moving trade and set up for further upside.
If #Tesla loses $428, the stock likely becomes slower and more difficult to trade, requiring greater caution and tighter risk management.
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So, going into June, don't try to predict whether it is going to be bullish or bearish – instead:
– respect the current uptrend
– trim into strength
– use day-count rules to manage entries and exits
– let key support and resistance levels guide decisions
– watch whether major indexes hold recent breakout levels
– continue favoring leading groups such as software $IGV while they remain technically strong
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