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Good Monday Morning, MPTraders! June 8, 2026-- Pre-Market Update: -- The weekend breach of the Israel-Iran ceasefire by both parties puts geopolitics back on the front burner this AM. That said, the financial markets did not react violently (down in Equities or acutely up in Crude Oil), which suggests that for the time being, neither Israel nor Iran has decided to resume all-out war.
With the futures dropping to within 25 points of the .236 retracement and the top of our target/support box on the 5-minute SPX chart, we seem to have completed our (a) wave decline. That likely means that we are now within the (b) wave bounce.Normally, we expect the a-wave within the (b) wave to bounce back to the .382-.500 retracement of the prior (a) wave decline, followed by a b-wave pullback, thereafter leading to a c-wave rally towards the .618 retracement of the (a) wave decline to complete the (b) wave bounce. And, thus far, the market seems to be complying.
Verizon has not had an easy stretch.The stock trades near $45, and years of sluggish growth, intense promotional competition, and a substantial debt burden have kept investor enthusiasm measured. None of those concerns will surprise anyone who follows the name.But underneath the familiar complaints, something less familiar is taking shape. The ground beneath the telecom model is shifting — and the challenge is not coming from another tower operator.It is coming from orbit.On its face, the comparison sounds absurd. Satellites against cell towers.
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