Our Live Trading Rooms Bring Together Thousands of Traders from Around the World!
...Good Tuesday Morning, MPTraders! July 7, 2026...-- Today, SPCX (SpaceX) is being added to the NDX-100...-- SPCX is getting a lot of love from Wall Street SpaceX initiated with an Overweight at JPMorgan... SpaceX initiated with an Outperform at Macquarie... SpaceX initiated with a Buy at Clear Street... SpaceX initiated with a Strong Buy at Raymond James... SpaceX initiated with a Buy at BofA... SpaceX initiated with a Neutral at MoffettNathanson... SpaceX initiated with an Outperform at William Blair... SpaceX initiated with an Outperform at Bernstein... SpaceX initiated with a Buy at Needham...
With the downside follow through, and GDX seeing a lower low just under 72, there is some potential that this correction could be completing sooner rather than later. But, for now, I still think we go lower and it could take a bit more time to get there as we could conceivably see one more loop higher before lower lows are struck.So, let’s look at GDX first. The first point I want to note is that we came within less than a dollar of the ideal 64-71 target in GDX, as the market struck a low of 71.
Today we saw the market move higher overnight and continue to grind higher throughout the session. We are currently testing the high that was struck on 7/6, which is making the most immediately bearish path less probable at the moment. With that being said, until we see a break of that level, I will keep this path on the board, as the overall action is still very sloppy and the alternate counts I am watching are still far from ideal from an Elliott Wave perspective.
Our Technical Analysts Share Their Expertise 24/7 on a Vast Range of Markets!
