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...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...
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.
After being out of sync with each other for a couple weeks, the major equity indexes are starting to conform a little better. This should make it easier to establish a trend. Yet for now, the trend since at least June, remains sideways (the blue line is the GT Level):Notice also that volume was low this week. SPX rose approximately 90 points this week, or a little over 1%.The market tried to flip short gamma Monday and failed. It also traded below the GT level intraday Wednesday but couldn’t sustain it.
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