Seasonal Context & Events
We’re officially out of earnings season—but the next cycle isn’t far off, just a couple weeks away—so earnings-driven volatility is on pause for now. There are no options expirations this week, and the calendar is free of holidays to muddy the flow. That said, we’re heading into month-end and quarter-end, which means end-of-period inflows and outflows could shake up prices as funds rebalance and managers tidy up portfolios.
Key events include:
- 24th June 14:00UTC FED Chair Powell Testimony
- 25th June 14:00UTC FED Chair Powell Testimony
- 26th June 12:30UTC GDP
- 26th June 12:30UTC Initial Jobless Claims
- 27th June 12:30UTC PCE Price Index
- 27th June 12:30UTC Personal Income
- 27th June 12:30UTC Personal Spending
- Those events may or may not influence the opening direction and subsequent days.
The Trading Week Recap
Long week on my end, which means a short article for you—didn’t have the time to prep anything deep this round. I’ll do my best to make up for it next week!
What happened last week? Forecasts suggested Friday’s drop was news-driven and pointed to a likely bounce. A resumption to the upside was expected, though caution was advised due to the cluster of resistance looming just above.
And sure enough, Monday kicked off with a jump—only to run face-first into that same resistance zone. Turns out that cluster wasn’t just for show. The Market found no compelling reason to punch through, and without a reason, there’s no energy.
Support & Resistance Levels
| R3 | 6076 |
| R2 | 6036 |
| R1 | 5999 |
| Close | 5967 |
| S1 | 5903 |
| S2 | 5853 |
| S3 | 5817 |
Forecasts
Where are we now? Smack in the middle of the year—which means it’s time to peek at forecasts soon. But before that, what about next week? My remaining DOIs (Dates of Interest) for June are the 23rd and 27th. So let’s keep it simple…
I expect a move down into midweek—S1 to S2 area seems solid for a landing zone—and then a rebound by the end of the week. What if the Market does the exact opposite? Well, that’s fine too. I’m not in this to be flawless—I’m in it to adapt.
If this article sparked a brain cell or two, you can say ‘Thanks’—ideally while caffeinating and pretending you’ve got this whole Market thing figured out. Consider buying me a coffee. It keeps this site running and caffeine flowing!
