Weekly Stock Market Update & SPY Technical Analysis The S&P 500 and Nasdaq 100 reached new record highs again last week but retreated on Friday following a new tariff announcement on Canada. Over the weekend, Trump also announced tariffs on Mexico and the European Union, likely out of frustration that his July 9th trade deal deadline couldn’t be met. All of these new tariffs are set to take effect on August 1st, the new deadline implemented by the Trump administration. The market had been riding high going into last week in anticipation of finalized trade deals, but these new developments reintroduced uncertainty for investors. Even the expectation that “peace” between Israel and Iran had been achieved is now back in...
Weekly Stock Market Update & SPY Technical Analysis Markets reached new record highs last week, with the S&P 500 and the Nasdaq leading the way. Investor sentiment is now at “extreme greed” as we enter the week of the July 9th trade deal deadline, which places pressure on policymakers to finalize deals with other countries. White House advisors have already released some statements saying that some trade deals will miss the deadline, perhaps prepping markets for the worst case scenario of that the deadline will be pushed back. Any sudden surprises could easily cause traders to take some profits and scale back. Trade deals aren’t the only drivers of the market so far this month. Last week, investors celebrated another...
Weekly Stock Market Update & SPY Technical Analysis Major indexes like the Nasdaq 100 and the S&P 500 hit new all-time highs last week as traders celebrated a truce between Israel and Iran. The brief conflict is part of a decades-long regional struggle, but this case stands out because the U.S. was directly involved—striking Iran for the first time since 1988. President Trump declared that peace had been achieved following the strike, and markets quickly responded with optimism. That optimism, however, overshadowed several market red flags, which we are factoring into our strategy moving forward. These warning signs came from recent economic data, including a rise in inflation and weaker-than-expected GDP. Inflation increased by 2.3% year-over-year, slightly above the 2.2%...
Weekly Stock Market Update & SPY Technical Analysis The market has seemingly gone nowhere in the past few weeks as investors await further details about trade negotiations and updates from the Iran-Israel battle. Trade talks seem to have stalled, but the Trump administration is repeatedly assuring markets that things are moving along and July 9th remains an important deadline for many deals. The market is not necessarily even looking for the details of a trade deal, Wall Street is rather concerned with the uncertainty that the ongoing negotiations is bringing. Many stocks are beginning to show very "tight" price action—meaning their trading ranges are getting smaller—which often signals that a big move is on the horizon. Last Friday was a...
Weekly Market Update & SPY Technical Analysis Markets ended lower last week as tensions in the Middle East escalated, sending major indexes down and oil prices higher. Long sworn enemies Israel and Iran are bombarding one another with military strikes, and many predict that the U.S. is either already involved or will get involved, raising questions on whether or not the government can support another war. Trump’s promise to bring peace between Russia and Ukraine hasn’t exactly gone to plan, and now the Israel-Iran tensions will put even more pressure on the administration. How does war impact stocks? Markets have a history of shrugging off war news in a relatively short timeframe. The Ukraine-Russia war at its start caused a...
