Stocks exploded this week ending a four week losing streak in all major indices after the odds of a rate cut have greatly increased on a weak jobs report number Friday. The Fed will meet June 18-19 and we'll get a much more clear view of their thinking at that point.
We're still facing major headwinds with China and trade, but we got news over the weekend that some sort of US-Mexico deal was reached, with Mexico avoiding the wrath of Trump's tariffs.
Lots of charts broke out last week and many more are setting up this week. I have risk on right now, but after four days of going straight up, its imperative you pick your spots to throw on risk. It would be a mistake to go all out buying everything in site 5 minutes off the open Monday morning, firing away all of your capital power when it would be healthy for us to go sideways a few days.
While stocks acted great last week, everything can always change with a tweet or headline in this current news-driven market climate, so stay on your toes out there.
What a base in SRPT! This was trade of the week a few weeks ago and never triggered, only further consolidating within the base during that time. Through 125 on some volume and this one is very ready to go.