Weekend Wall Street #47 - Second Half of The Year and Short/Slow Week
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Happy Sunday everyone and welcome back to Weekend Wall Street. The first half of the year is over with the S&P 500 gaining 15.9% led by the markets forward outlook on cooling inflation, the Fed’s slowdown on rate hikes, and advances in growth technology - specifically AI. The largest name in the S&P, Apple, also just hit a $3T market cap.
We continue to trade into the dog days of Summer where hedge funds and managers go on vacation and we get a lot of slow action before the Fall quarter where we will likely see a lot of big action, including volume in new sectors.
I have only been posting my high confidence setups in order to reduce clutter on my newsletter, with my last article having three amazing winning plays, ADI (my large cap quantum computing play) having a massive breakout on Friday. I am watching that for continuation this week.
This week is not a full trading week. With Independence Day on July 4th, trading on Monday July 3rd on the Nasdaq and NYSE will close at 1PM EST and the bond market will close one hour later at 2PM EST. On July 4th, the market is closed the full day.