The major indices are mostly flat ahead of the open as the market is still digesting the big 700-point gain we saw in the Dow at the end of last week…
And the big thing is we don’t have any major catalysts to rally, but I still believe the Dow can rise to the 34,250 level from where we are.
However, we’re also overbought right now, so I see more opportunities to the short side than I do for longs, so we have to be extra cautious.
Tech, meanwhile, is more grossly overbought than we have been for a long, long time.
Be sure and check out today’s video up top for everything you need to know ahead of the market open!
I also cover…
- 📉 The tech sector is overbought and could cool off soon, while bonds are likely to rise in the coming days.
- 📈 While there is no major catalyst in the market at the moment, there are still opportunities for both long and short trades.
- 💰 The VIX is low, indicating volatility is also at a low point, but options may be a good way to play it.
- 🌎 Weak data from China is causing concerns about the global economy, which may affect energy stocks.
- 💼 U.S. Secretary of State Anthony Blinken plans to travel to China next week for high-level talks, as both countries attempt to normalize relations.
P.S. My Biggest Gift EVER, Revealed at 1pm TODAY!
Buckle up! Because at 1 p.m. ET TODAY, June 7, I’m doing something I’ve NEVER done before…
In order to celebrate the one-year anniversary of my most important discoveries in my career…
A discovery that helped me go 15-for-15 trades in a row…
A discovery many of my followers have praised…
“I made 14 of the trades and made money on all of them – I am very happy!” – Mary A.
And to celebrate this discovery, I’m giving away the biggest gift I’ve ever given before!
Don’t miss it…
The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. The trades expressed are from backtested, historical data in order to demonstrate the potential of the system
