Midweek Stocks in Play Report 6.25

Documenting the state of the market, stocks in play, current leaders, and sharing my stock universe.

Hey Folks,

It’s truthfully been an uneventful week, to say the least. Other than the UBER catalyst position, some stocks have given back or round-tripped gains from pivots. Quantum and nuclear names continue to pull back, and the big question in those two sectors is:

1. Are they going to find buyers and base for a while?

2. Or are they finally going to start rolling over?

It seems we’re in a market where things are much more selective. I continue to favor growth-ier names or themes that show strong linear momentum (think: $HOOD, $PLTR, $CRDO recently) over names that just grind higher (like $CRWD, $SPOT).

For anyone new here:
I post in-depth Stocks in Play reports twice a week. Subscribers receive nightly watchlists, while my daily reviews are shared for free.
Hope you find value in these updates!

Indexes

QQQ — Closing right up against all-time highs. Breadth was down, but that’s a result of the choppiness we’ve been seeing. Aside from a select few names, it's been a choppy environment for new positions.

SPY — Still has some catching up to do. The bright side: Nasdaq is leading, which is typically bullish.

IWM — Struggling with the 200-day moving average.

$ARKK – A strong, linear move off its recent pivot. Now working through a large base. Back in a Stage 2 uptrend.

Individual Stocks

The common theme across these names: they need more sideways action.

$DAVE – A great hold since the May EP. With the market recovering from a correction, it gained solid traction. Still worth watching if it digests and forms a new pivot.

$RKLB – Despite a bearish engulfing day today, continued sideways action could lead to a daily cup-and-handle setup. Needs work.

$ASTS – Huge move. Impressive strength today, especially considering the offering news. Some chop here would be healthy.

$MP – Nice move off the lows. Setting up along the rising 10 EMA. Recent accumulation is encouraging.