Nice Gain From QQQ To Start 2nd Half Of 2023 🤑
12% gain within 20 mins taking calls from the tech rally led by TSLA’s stellar delivery performance. Monday’s shortened session marked the start of a new trading month, quarter and half. No trading on Tuesday as US celebrates Independence Day.
Strong buyback at 369 in a bullish market
On Friday, the Nasdaq Composite closed out its biggest first-half gain since 1983, surging 31.7%, while the S&P 500 jumped 15.9% for its best first-half performance since 2019. The Dow Jones Industrial Average lagged, climbing a modest 3.8% during the period.
Those gains came as enthusiasm around artificial intelligence boosted tech stocks. Recent data showing a resilient U.S. economy despite higher rates also lifted investor sentiment, easing some fears on Wall Street of a long-awaited downturn.
“Investors are saying, ‘you know what, maybe now is the time to alter my mindset from ‘Oh no’ to ’FOMO,″” said Sam Stovall, chief investment strategist at CFRA Research, referring to the fear of missing out. “Instead of being overly worried, maybe investors might want to make sure that they don’t miss out on a potentially positive second half now that the first half has offered us a running start.”
QQQ is 2X stronger than SPY
The stock market opened the holiday-shortened week with caution, as traders remain hesitant following recent strong gains and key events on Main Street.
With light trading volume as expected due to the upcoming holiday, small market movements lead to some volatility with not much difference made to the indexes resulting in another day of consolidation on Monday.
The ISM’s manufacturing purchasing managers’ index for June came in slightly worse than expected. June’s reading was once again below 50, signaling that economic activity was declining. Later in the week, investors will be following data on the job market.
Trade #1
U.S. markets closed early ahead of the Fourth of July holiday. They will be closed Tuesday as well. Take a break to rest your mind.
@CaptainTiger @TigerStars @MillionaireTiger @Daily_Discussion
Modify on 2023-07-04 11:11
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Monday marked the start of a new trading month, quarter, and half...and hopefully a new yacht for us
With gains like that, I'm starting to believe in the QQQ magic!
Independence Day break? More like Independence from boring trades!
TSLA's delivery performance must have been out of this world!
Wow, 12% gain in just 20 minutes? That's faster than a cheetah on roller skates
Great ariticle, would you like to share it?