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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...
Week in ReviewVolume was quite decent for a shortened week,.and the SPX closed approximately 130 points higher. The preceding week lost approximately 150 points. In other words, we haven't moved much in two weeks. In fact, one can argue that SPX has been trending sideways since the week of May 11th. Despite the major equity indexes being out of sync for some time, this high-level, sideways pattern can also be seen on the Nasdaq, albeit with greater volatility.
Today the market continued its grind higher on what remains sloppy action as we approach the upper end of the resistance zone, still keeping the potential wave 2 alive. If we continue to push higher and break resistance, it will make it more likely that we are following the yellow count over the 7646 level before seeing even a local top.Overall, there really is not much change to the counts as they have been laid out over the past several days.
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