Welcome to the Traders Market Intelligence Report, brought to you by WealthBuildersHQ.com. This update is for Monday, June 24th, 2024. Hope you’re having a fantastic day. It has been an interesting week to say the least. As we do get started, keep in mind everything we look at is for education. Nothing’s meant to be advice or recommendations.

All right, so let’s start off with our economic reports, first. So we’re looking at next week, we’ve got 3:00 AM FOMC member Waller speaks. Who the hell is listening at 3:00 AM like, I care. Why would you even bother getting up that early to speak? Where are you speaking? On the moon? It’s not gonna really have much of an impact. Our markets aren’t open, our markets makers aren’t even awake. Then, 9 and 10:00 AM on, so consumer confidence read on Tuesday. So keep your eye on that. The market’s open. Richmond manufacturing is okay, not a big one, not much. On Wednesday, Thursday, a lot of reports. Final GDP unemployment claims are 8:30. So pre-market futures trading for sure, pending home sales at 10:00 AM We got a couple of 10 AMs this week. Friday, a lot of reports… Core PCE, we’ve got revised consumer sentiment, and then the Chicago PMI purchasing managers index is at 9:45. So we’ve got quite a few reports that are coming out during the market time over this next coming week.

All right, so let’s go take a look at our stocks. So we go into the S&P 500, and the prophecy revealed or comes true what prophecy I’ve been talking about for weeks, this doubling effect that I expected or stacking effect that I expected the S&P 500 to do. And that’s exactly what it did. We took our Fibonacci that we drew from A to B, right? And then we had the pullback to C and that expands out a move of the 25%, which we wait for the move above there for a change in market direction. 0.618 is our very first target, and then our 5499.84 level is our very next target in there, right?
So what’s happened? We made this amazing move up on this position here, on this setup. Amazing move. We got into this 5473 level, which is a midpoint on a key Fibonacci levels, and I really, really would’ve to scrunch down for you to see all of this. I mean, tiny, tiny, tiny, right? Lemme see if I can. There we go. All right. You see this black line down here? 4181, that’s a fib line. You see this up here? 6765, that’s a fib number. This 5473 is the midpoint between those, right? So I’ve been calling that for the last couple of weeks. There’s a 5410 it’s actually, 5470 is there, 54,10 was down here, 5470 and then up to the 5,500.

So yesterday, yes, yesterday. What do we do? Bam, we gap up on the open new, all time high on the open. We run up with the wick and we’re looking at 5499.84. What was our high yesterday? Let’s see. Hmm, 5504.90. So, we’re looking at 4.5 points. We were down here. We were down here as they made that call to the 5499, right? It’s been a little bit of a trek. We had to move up. We had a pullback, a nice continuation. Eh, we’ve fallen back a little bit this week, but you know what? We have had multiple all time highs this week. I am not disappointed by the move at all. I’m not worried about the pullback. We’re still above our eight moving average, which is exciting for me that we’re still above that level. We need to get back above that 5473 yet again. And then of course, above the 5,500 level.

So to the downside is the eight. If we break that, it’s 5410 on the upside. Our next point, and let’s see what we’ve got here. I’m gonna grab the ABC tool yet again. I’m going to come from this swing low down here to this swing high up here and make this right here. My next swing low. So we’re gonna have a 5522.51 level to contend with right now. Nothing exciting in there, but we’re gonna have some, some hesitation at that point. But our next one above that is 5597.78, we’ll call it 5,600. That a hundred point level, that whole number is awesome. Alright, that those are our levels of where we’re looking.

Let’s go and look at the vix. So VIX right now is down 14 cents. We’ve been off on our VIX. The market is down. The VIX is up, right? It’s, that’s normal. What we’re seeing the market go up and the VIX go up at the same time, right? So we’re seeing some and that would happen on Wednesday. We’re seeing some catch up, make up, whatever you wanna call it, where the VIX is not following lockstep with what the S&P 500 normally does to the VIX, but right now we’re up 12 cents. It still only puts us at 13.16. We’ve got 15 minutes left for the market to close right now. I just need to get this one done early and out the door today. So I made sure that you get it in your mailbox for this week’s update.

And there you have it ladies and gentlemen, I hope you have a great rest of your week. Listen, if you’re looking for some resources for trading, guys, lemme tell you about two of ’em.

Go ahead over to TradingLiksABoss.Com, which has all of our free trainings on there. So we do a free one hour training of Power Hour each Monday, Trading Coaches Playbook each Friday. They’re both at noon. They’re bookends to the week. We start and end the week with our major trainings. Any new trainings that are coming up are in between. And then there’s a bunch of resources in here, how to trade news candidates. You could sign up for my Trade With Rob, which is free candidates that come out every week, Tony’s candidates today,and so forth. There’s a lot of great stuff on this page. And then if you go over to the website and you go to the, the resources tab, trading resources, there’s tons of stuff up up here such as some of our calculators,and so forth, right? So there’s great,you know, some things for brokerage firms if you’re looking for a computer system, trading books, Gary V. Quotes and so forth, that they’re all resources that are available to you as a trader. All right? So with that, have a great weekend and I will see you all on our next update. Bye for now.

Company

About
Contact Us
Legal

Stay In Touch

We hate spam as much as you do. We promise never to spam you and only send you emails filled with tons of value. Jump on our mailing list to stay up to date with our newest content, receive special offers, and stay connected!

Company

About
Contact Us
Legal

Stay In Touch

We hate spam as much as you do. We promise never to spam you and only send you emails filled with tons of value. Jump on our mailing list to stay up to date with our newest content, receive special offers, and stay connected!

WealthBuilders Logo
WealthBuilders Logo

28 Lincoln Ave, Suite C, Rockville Centre, NY 11570