Nurse in The Market 6-21-26 Sunday Market Playbook

A top-down analysis of last week's market movement and a plan for the week ahead.

Welcome back to your weekly market checkup!

I hope you had an awesome week!

ICYMI, you can see last week’s top play of the week here →

A quick highlight from last week →

DoorDash Inc. DASH 0.00%↑ broke out of the box and popped over 12% last week! This is a beautiful breakout move! I'm watching for price to hit my first target of $190 or tag an extreme-high RSI reading for a profit taking opportunity. On any price weakness or RSI pullback, I would look to add shares.

Let’s dig into last week’s market recap and the playbook for the week ahead →

The markets were fun last week!

The Federal Reserve decided to hold interest rates steady at 3.50% to 3.75%. The U.S. and Iran announced a peace deal fully reopening the crucial Strait of Hormuz waterway

Bonds (TLT) continued to climb higher and break through its 200-day SMA.

The Dow Jones (DIA) also climbed higher and reached a new record high! Both the Nasdaq (QQQ) and the S&P 500 (SPY) broke out and are back in play here.

Bitcoin (BTC) is in an accumulation zone with a possible breakout underway. Price already attempted its first breakout, but failed, which is typically bearish. Let’s see if price is able to hold the next breakout here.

Gold (GLD) is in an accumulation zone. I’m watching to see if price holds here or rolls over.

Oil (USO) continued sell-off even more and is trading at a near extreme-low RSI reading. The sharp drop in crude back into the mid-$70s heavily weighed on oil producers and exploration companies, driving the broad energy sector selloff

The massive drop in oil prices acted as a tailwind for growth and cyclical sectors like Technology (XLK) and Industrials (XLI).

Lower projected energy costs mitigated broader inflation concerns, facilitating a "risk-on" environment for equity investors

The Nasdaq (QQQ) was the top performing index of the Big 3, while the Dow Jones (DIA) was the worst.

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I. The Market Vitals (Best to Worst)

Here’s how the 7 major asset classes ranked this week:

1. 20 Year Bonds Treasury ETF TLT 0.00%↑

2. The Dow Jones 30 DIA 0.00%↑

3. The Nasdaq-100 QQQ 0.00%↑

4. The S&P 500 SPY 0.00%↑

5. Bitcoin ($BTCUSD)

6. Gold GLD 0.00%↑

7. Oil USO 0.00%↑

♥️Market Pulse: 5/7

• 5/7 assets are up.

• QQQ, SPY, DIA, TLT, and GLD are up.

• BTC and USO are down.

Risk-on environment.

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II. Section Rotation (11 SPDR S&P 500 Sectors)

Technology XLK 0.00%↑ was the top performing sector of the S&P 500 SPY 0.00%↑ , while Energy XLE 0.00%↑ was the worst.

The top three performing sectors were Technology (XLK), Industrials (XLI), and Consumer Discretionary (XLY).

The worst three performing sectors were Energy (XLE), Financials (XLF), and Health Care (XLV).

The increase in Technology XLK 0.00%↑ was driven by massive capital inflows into semiconductors and AI beneficiaries.

Consumer Discretionary XLY 0.00%↑ was boosted by stronger-than-expected retail sales data showing resilient consumers.

Consumer Staples XLP 0.00%↑ is entered a decline right above its 200-day SMA.

Communication Services XLC 0.00%↑ and Consumer Discretionary XLY 0.00%↑ are both setting up in accumulation zones below their 200-day SMA. This gives us some potential ideas this week.

Energy XLE 0.00%↑ plunged as a historic U.S.-Iran peace deal reopened the Strait of Hormuz.

All 9/11 SPDR sectors are trading above their 200-day SMA here, which is typically a bullish sign. The two sectors trading below their 200-day SMA are the XLC and XLY. I really like XLY stocks for trade ideas here.

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III. Important Sectors & ETFs

Beyond the main sectors, here’s what stood out this week:

The Russell 2000 Index IWM 0.00%↑ reached another new all-time high last week!

iShares Semiconductors ETF SOXX 0.00%↑ also reached a new all-time high and is back on the move!

Ark Innovation ETF ARKK 0.00%↑ is also on the move and broke through its 200-day SMA displaying the momentum for growth stocks is in favor here.

Gold Miners GDX 0.00%↑ and Gold Miners Junior GDXJ 0.00%↑ both went for a breakout and failed, which is typically bearish.

The iShares Expanded Tech-Software Sector ETF IGV 0.00%↑ is in a decline below its 200-day SMA.

I like URTY and SOXL for leveraged trades in small-caps and semiconductors here. I also like ARKK to for growth plays setting up.

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IV. What Assets & Sectors I’m Watching

Here’s what I’m focused on next week:

• Oil (USO): Will price keep continuing lower here or find a bottom.

  • XLE and XOP are both in declines and I’m watching for price to put in a bottom.

• Dow Jones (DIA): Hit a new record high last week, but didn’t tag an extreme-high RSI reading indicating price has more room to run.

• The S&P 500 (SPY) & The Nasdaq (QQQ): both are setting up for breakouts. Will these breakouts hold here?

• Bitcoin (BTC): Has been trading in an accumulation zone with a couple breakout attempts.

  • Will one of this breakouts hold here and price climb higher?

• Gold (GLD): I’m watching to see if price will hold its accumulation zone here or rollover.

  • Price is trading below its 200-day SMA.

I like bitcoin (BTC) and BITX and the major indexes for leveraged trade ideas this week including URTY, UPRO, UDOW, and TQQQ.

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V. Individual Stock Highlights & Winners From Last Week

Profit-Taking Opportunities:

• SNDK, AIR, ETSY, SNDK

Congratulations to everyone in these trades!

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VI. Nurse Jess’s Trade Ideas

Here are the setups I’m watching heading into next week:

1. Main Trade Ideas This Week

• BTC / BITX

• SPY, QQQ, DIA, IWM

• XLU, XLY

• SOXX, ARKK

• GOOGL, NVDA, META, AAPL, AMZN, TSLA, UBER, COIN, CVNA, SHAK, CRSP

• VZ, NKE, LMT, MDT, HSY, PEP, CPB, CE

• ACHR, JOBY, TREE, ENVX

2. Buy & Hold Undervalued Opportunities

These are trading below fair value or set up for long-term entries:

• NKE, VZ, HSY, PEP, CPB, LMT, MDT, MCD, CE

• META, MSFT, AMZN, NVDA, GOOGL, CRSP, TREE

3. Spec Trade Ideas

• ENVX, VKTX, JOBY, ACHR, TREE, BARK

4. Leveraged Trade Ideas

• BITX, UPRO, TQQQ, UDOW, URTY

• UTSL

• GGLL, TSLL, AAPL, NVDL, AMZU, FBL, CVNX, CONL, JOBX

5. My Watchlist

• USO, $BRENT, GLD, SLV

• XLE, XLV, XLC, XLP, XLRE

• IGV, XOP, GDX, GDXJ

• AMGN, IBM, JNJ, KO, VZ, CVX, XOM, MCD, LMT, CPB, HSY

• ET, OXY, NUE, MSFT, ADBE

• BORR, FUBO

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VII. Trade Breakdowns

Let’s take a closer look at each setup.

1. Joby Aviation, Inc. (JOBY)

Joby Aviation, Inc. JOBY 0.00%↑ is in an accumulation zone here below its 200-day SMA.

Price dropped an anchor point, went sideways, and closed above its 5-day EMA signaling an entry into the trade.

The MACD histogram has been ticking upwards towards the bullish side displaying the momentum is in favor here.

Profit targets:

• An extreme-high RSI reading

• 200-day SMA: $12.48

• First target zone: $16

• Previous high target zone: $19

JOBY is a transportation company developing an all-electric, vertical take-off and landing (eVTOL) air taxi for commercial passenger service.

Its Joby eVTOL aircraft is designed to transport a pilot and up to four passengers or an expected payload of up to 1,000 pounds at speeds of up to 200 mph. The aircraft is optimized for urban routes, with a target range of up to 100 miles on a single charge.

The company is also developing an app-based platform that will help consumers to book rides directly through its service. It has one operating and reportable segment, air transportation and related services.

According to Morningstar, JOBY has a fair value of $8.58 and is currently trading fairly valued.

JOBY is part of the Industrials sector (XLI) of the S&P 500 (SPY) and the Airlines sub-sector.

If you like leverage you could look to put on a double-leveraged swing trade in JOBX. Remember, when trading leveraged funds to use the un-leveraged chart for your trade analysis and plan.

Link to JOBY chart

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2. Amazon.com, Inc. (AMZN)

Amazon.com, Inc. AMZN 0.00%↑ is an accumulation zone right above its 200-day SMA.

Its 200-day SMA is being used as support and the stop loss zone. If price breaks this line, close the trade.

I’m looking to add to my leveraged position trade in AMZU.

This is a great opportunity to start a buy and hold position and to put on a swing trade here.

AMZN has transformed online shopping forever.

Profit targets:

• An extreme-high RSI reading

• Previous high target zone: $275

• Fair value target: $280

AMZN is the leading online retailer and marketplace for third party sellers.

Retail related revenue represents approximately 74% of total, followed by Amazon Web Services (17%), and advertising services (9%).

International segments constitute 22% of Amazon's total revenue, led by Germany, the United Kingdom, and Japan.

According to Morningstar, AMZN has a fair value of $280 and is currently trading undervalued.

AMZN is part of the Consumer Discretionary (XLY) of the S&P 500 (SPY) and the Broadline Retailers sub-sector.

If you like leverage you could look to put on a double-leveraged swing trade in AMZU. Remember, when trading leveraged funds to use the un-leveraged chart for your trade analysis and plan.

Link to AMZN chart

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VIII. Nurse Jess’s Weekend Market Notes

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IX. The Bottom Line

The party seems to be back on in the markets!

We never know where the markets are going to go. Price can only go three ways—up, down, or sideways.

Don’t force any trades. Let the setups come to you.

I like Bitcoin (BTC), SPY, QQQ, IWM, and XLU for trade setups this week!

I’m watching oil (USO) and gold (GLD) here.

I really like AMZN, GOOGL, NVDA, SHAK, CRSP, NKE, TREE, ACHR, and BITX here.

Let me know what you’re watching and thank you so much for reading! 🙌

See you Wednesday for the Top Pick of the Week.🫶

-Nurse Jess 🤝

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ICYMI, Previous Articles →

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