From the report:
The $SPY / $QQQ 10-day SMA breaches today create a mid-week flag that requires monitoring. The regime is not broken — the weekly candle has not confirmed deterioration, and breadth today was not consistent with a structural breakdown. Friday's weekly close is the read. If SPY closes the week above its 20-week SMA and $QQQ holds its 10-week, the Surfing regime remains intact and the posture restores to AGGRESSIVE next week after FOMC confirmation.
This means patience for clarity on the weekly time frame until June 19th given the heavy consolidation we saw over the last 4 trading sessions.
$ORCL just reported 93% cloud infrastructure growth and a $638B AI backlog.
Stock is down after hours because the market is scared of oil.
That's the gap. That's the trade. 👇Check the brief!
https://t.co/Hrcg5e5CXx
We note several binary risks coming up in today's report - CPI Wed, FOMC next week with a new Fed Chair - cautious with new positions but noting some initial strength $IREN $WRLD $WULF #FOMC
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Weekly regime. Sector leadership. SMA proximity. Candle sequence. Setup quality.
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One Thing From Today's Report
CPI on Wednesday June 10 is the single most important event for the next trading week — if it prints hot, the 10-year stays above 4.5%, the Fed holds hawkish, and this sell-off extends; if it cools, the tech pullback becomes the setup opportunity of the month.
Check our brief here for free: https://t.co/t2K5i80b3P
TOM LEE SAYS $2 TRILLION OF SPACEX STOCK UNLOCKS 90 DAYS AFTER THE IPO
- Cites Paul Tudor Jones using the same setup to call the 1999 top
- SpaceX, OpenAI, and Anthropic IPOs could total $4 trillion combined
- That's 5 to 7% of the entire S&P 500 in new supply hitting the market
🚨 TOM LEE WARNS A MASSIVE WAVE OF IPO SUPPLY COULD HIT MARKETS
He says SpaceX alone could unlock $2 trillion of stock 90 days after IPO.
That matters because Paul Tudor Jones used the same setup to call the 1999 top.
🔹 SpaceX: $2T
🔹 SpaceX + OpenAI + Anthropic: $4T
🔹 Equal to 5-7% of the S&P 500
That is a huge amount of new supply fighting for market liquidity.
Tom Lee remains bearish in the short term and continues to expect a 15-20% drawdown later this summer.
According to him, the correction will be driven by:
1. How the Fed reacts to the underlying inflation risks
2. The market not liking inflation concerns while yields are rising, with inflation shocks and energy shortages still in the pipeline
3. A large wave of IPOs creating a lot of supply
After this drawdown, Tom Lee believes the following 18-24 months could bring one of the biggest rallies of our lifetime.
Fruits & vegetables likely account for a majority of people's dietary microplastic and PFAS intake.
What’s frustrating is that this isn’t something you can just rinse off. In many cases, the contamination appears to be taken up into the food itself.
Organic may reduce some of that exposure, but even organic farms can be affected when they’re near contaminated land or water.
Should you stop eating produce? No. We should be much more upset about how widespread these chemicals have become, especially when children are being exposed through foods we otherwise consider healthy.
One practical thing I think is worth considering is beta-glucan. There’s some evidence it may help support the excretion of PFAS, and given how unavoidable these exposures are becoming, that may be a useful tool, especially for families who can’t realistically eliminate every source.