2026-06-05
SPY fell 2.6% to $738 as the market made a new low of the day on steady selling. A short in NVDA at $207.93 was exited at $207.83 for a $.10 gain.
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Daily Market Analysis
June 2026
SPY slipped 1.3% to $747 after a pullback from its highs. A wave of IPOs added supply that weighed on stocks, and a 2.6% drop on June 5 started the slide. News of an Iran deal sparked a 1.8% rally on June 15, but the gains from the SpaceX IPO and the Iran agreement faded as the 50-day moving average was tested repeatedly.
A complete intraday market analysis for each day is listed below.
2026-06-08
SPY rose 0.2% to $739 after a hard Friday sell-off that followed a run above the EMA 8. Economic data was excellent, with both ISM readings above 54, and good news was already priced in.
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2026-06-09
SPY fell 0.3% to $737 as the market found support at Friday's low while buyers stayed reluctant. Selling out-of-the-money bullish put spreads was favored over adding to longer-term bullish swing trades.
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2026-06-10
SPY fell 1.6% to $725 as stock supply from IPOs and offerings weighed on the market. Google raised $85B last week, Open AI planned an IPO, and demand for SpaceX would be tested Friday.
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2026-06-11
SPY rose 1.7% to $738 despite a week of selling as IPOs and stock supply cast a shadow. Google raised $85 billion, Oracle announced a $20 billion offering and SMCI planned to raise $7 billion.
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2026-06-12
SPY rose 0.5% to $742 as news that an Iran deal had been reached sparked a rally. Trump said Iran agreed to abandon nuclear weapons, oil was flowing through the strait, and SpaceX was set to go public.
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2026-06-15
SPY rose 1.8% to $755 as an Iran agreement appeared set to be signed. The technical backdrop was strong, with support above the 50-day MA tested three times before the bounce.
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2026-06-16
SPY fell 0.6% to $750 after the Iran deal sparked buying and put the market back in rally mode. A holiday Friday, a Fed meeting and triple witching made it an odd week, with no rate cut expected.
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2026-06-17
SPY fell 1.2% to $741 as profit taking followed Monday's gains. The trend remained up, the FOMC Statement was due with no rate cut expected, and triple witching was set for the next day.
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2026-06-18
SPY rose 0.8% to $747 as the market recovered losses from a two-day drift lower tied to triple witching. Three Fed officials favored a rate hike, but retreating oil prices were expected to ease inflation.
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2026-06-22
SPY fell 0.3% to $744 in a quiet start to the week after last week's bounce. A rally above SPY $752 would pave the way for a test of the all-time high.
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2026-06-23
SPY fell 1.5% to $734 as the 50-day MA was tested, which bulls did not want to see. Sellers had knocked prices down with long red candles, possibly helped by end of quarter rebalancing.
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2026-06-24
SPY was flat at 0.0% and closed at $733 as the market retested 50-day MA support. Sellers could move price, which limited upside, though that was not a call for a crash, and MU was due to report.
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2026-06-25
SPY rose 0.1% to $734 as the week's price action stayed bearish. Gains from the SpaceX IPO and Iran MOU were wiped out, and the 50-day MA was tested twice, suggesting a softening market bid.
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2026-06-26
SPY fell 0.7% to $729 after two weeks of steady selling ended with a close below the 50-day MA. A morning gap higher after MU earnings was smacked down, and China fell 2% overnight.
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2026-06-29
SPY rose 1.6% to $741 after a soft week in which buyers ignored good earnings. A close below the 50-day MA was a reason to reduce long exposure, not to short, with neither side acting urgently.
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