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Good Tuesday Morning, MPTraders! June 16, 2026-- Pre-Market Update: -- Today, the 'Warsh Era" at the Fed begins its first FOMC (2-day) Meeting. Wednesday afternoon at 2 ET the fireworks commence, with all of the economic, monetary, and political tentacles exposed...Most investors expect the Fed to keep rates unchanged at the upcoming meeting, BofA survey shows. 55% foresee a “hawkish hold,” with Chair Kevin Warsh signalling higher-for-longer policy. Another 33% expect a “dovish hold,” leaving room for future cuts. Survey conducted June 5–11 (Walter Bloomberg on X)...-- Today Options on SPCX begin trading fyi...-- TSLA (407.60 in pre-market vs. yest close 410.
With the SPX moving through the resistance box today, I have been forced to add a bullish alternative to the counts I am tracking. But, I want to make it clear that this is in no way my preferred path at this time, and it will need to prove itself as per the outline below.For now, I am still viewing this rally as a (b) wave until proven otherwise. But, we also need to see a CLEAR 5-wave decline to make it a strong probability that a (c) wave decline is in progress.
Let me lay out what we actually know now, because the picture has filled in considerably.SpaceX priced at $135 on June 11 and opened to the public the next day. It sits near $185 as I write this — up better than a third from the offer in a handful of sessions. The headline market cap reads $2.44 trillion. Hold that number loosely, because it is not what it appears to be.Here is why. Only about 4% of the shares are actually trading. The other 96% are locked. So that $2.
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