Mr. Fibs - 6/17/24 Market Analysis

Good morning traders and investors. Today’s post will be brief. I will mostly be going over some of the scenarios shared last week and in the X community.

Even with the shortened week, we have a decent amount of Fed speakers along with retail sales, building permits, and manufacturing data. Notable earnings include LEN, KBH, KR, and KMX.

Economic Calendar

MONDAY, JUNE 17

8:30 am Empire State manufacturing survey

TUESDAY, JUNE 18

8:30 am U.S. retail sales

8:30 am Retail sales minus autos

9:15 am Industrial production

9:15 am Capacity utilization

10:00 am Business inventories

WEDNESDAY, JUNE 19

Juneteenth Day holiday

10:00 am Home builder confidence index

THURSDAY, JUNE 20

8:30 am Initial jobless claims

8:30 am U.S. current account

8:30 am Housing starts

8:30 am Building permits

8:30 am Philadelphia Fed manufacturing survey

FRIDAY, JUNE 21

9:45 am S&P flash U.S. services PMI

9:45 am S&P flash U.S. manufacturing PMI

10:00 am Existing home sales

10:00 am U.S. leading economic indicators

Overall my main focus are the tech leaders and how the other indices besides SPY and QQQ want to move. I’ll explain that more in the analysis below.

Levels and Analysis