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Wednesday, June 14, 2023 7:14:17 AM
Solid Pre-Election June Gains As Expected
By: Almanac Trader | June 13, 2023
June is delivering much better than typical pre-election year strength, but NASDAQ and Russell 2000 are leading the charge as usual. R2K was up 7% for the month yesterday and NAS was up 4%, both up more today. However, June quarterly OpEx is riddled with volatility. Week after DJIA is Down 27 of the last 33 years 1990-2022. (2023 STA page 108.) S&P down 23 of 33. NASDAQ down 18/33.
So far in 2023 NASDAQ is closely tracking the pre-election pattern up 28.6% year-to-date! But remember, June ends NASDAQ’s Best 8 Months with a seasonal peak in mid-July. Enjoy this AI/Chip-driven rally for now and use it to reposition for the Worst 4 Months July-October.
The backdrop is set up for sideways action over the weak summer months, especially after mid-July into the worst two months of the year August and September. This is lining up well for our NASDAQ Best 8 Months MACD Seasonal Sell Signal that can occur anytime on or after June 1. AI (Almanac Investor) subscribers will be emailed when it triggers.
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DiscoverGold
By: Almanac Trader | June 13, 2023
June is delivering much better than typical pre-election year strength, but NASDAQ and Russell 2000 are leading the charge as usual. R2K was up 7% for the month yesterday and NAS was up 4%, both up more today. However, June quarterly OpEx is riddled with volatility. Week after DJIA is Down 27 of the last 33 years 1990-2022. (2023 STA page 108.) S&P down 23 of 33. NASDAQ down 18/33.
So far in 2023 NASDAQ is closely tracking the pre-election pattern up 28.6% year-to-date! But remember, June ends NASDAQ’s Best 8 Months with a seasonal peak in mid-July. Enjoy this AI/Chip-driven rally for now and use it to reposition for the Worst 4 Months July-October.
The backdrop is set up for sideways action over the weak summer months, especially after mid-July into the worst two months of the year August and September. This is lining up well for our NASDAQ Best 8 Months MACD Seasonal Sell Signal that can occur anytime on or after June 1. AI (Almanac Investor) subscribers will be emailed when it triggers.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
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