U.S. indices: one market, three different moods

U.S. indices: one market, three different moods

The TradingView index board puts the S&P 500 at 7,358.21 USD, the Dow Jones at 51,848.91 USD, and the Nasdaq 100 at 29,220.06. Over the past month: the S&P 500 is down 1.48%, the Dow is up 2.80%, and the Nasdaq 100 is down 0.87%. "The market" is doing fine, depending entirely on which market you mean.

Gobble's Take: One tape, three personalities. The numbers keep refusing to write the clean story everyone wants. Source: TradingView

Cycles say patience is doing the heavy lifting

Strategy Master sees the stock market approaching a major top — after a local top, a roughly 5% correction, and a recovery. The 3-Day Cycle has been trending lower for the past month, The 1-Week Cycle continues to suggest that the broader trend remains bearish., and both could have room for one final push higher into mid-July. The market is currently in Year 4 of a 4.5-Year Stock Market Cycle, having already gained more than 100% from its lows.

Gobble's Take: Late-cycle optimism tends to get loudest right before selectivity starts collecting its fee. Source: Strategy Master

Meta: 94 buyers, 0 sellers, no debate

Markets Insider shows Meta Platforms with 97 total analysts on record — 94 Buy ratings, 3 Neutral, and 0 Sell. Price targets stretch from 710.00 on the low end to 857.63 at the median and all the way to 1,144.00 at the top.

Gobble's Take: Zero sell ratings. The crowd has spoken, signed the paperwork, and filed it in triplicate. Source: Markets Insider

The SpaceX IPO lifted off — then the sector didn't

George Coyle notes the SpaceX IPO landed on June 12, and most of the space stocks he tracks have been selling off since. SpaceX itself ran to a high of 225.64 before sliding to 156. Two weeks in, he says the IPO is looking, for now, like it may have marked a top for the sector.

Gobble's Take: IPO day has the energy of a launch. The chart afterward can feel a lot more like re-entry. Source: George Coyle - The Stock Market Strategist 6.24.26

In Case You Missed It

Yesterday's top stories:

• S&P 500 futures are barely twitching while a mixed cross-asset tape sets the tone
• JPMorgan’s rebalancing note puts a potentially noisy floor under month-end trading
• A growing list of warning signs has one bear-eyed message: the market looks stretched