Bullish Handles - Tuesday Premarket 6/3/25

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Good Morning Team,

Reaction To The News
The market shrugged off early weakness and closed higher on Monday, which is an encouraging sign.
It is even more encouraging to see the market shake off the weakness about the US-China trade talks hitting a wall.
The "lead" story on WSJ.com is: "China’s New Trade Negotiator Is Ready to Play Hardball."
If that headline hit in March, the market would have had a big move down.
Remember, the reaction to the news is more important than the news itself.

Bullish Handles
The benchmark S&P 500 (SPY) and Nasdaq 100 (QQQ) are both tracing out bullish handles which is a bullish sign.
Remember, the market had a huge rally from April-early May-then paused for the past few weeks to consolidate (build a bullish handle) that move.
We are only 3% below a record high and if this action continues, it is a matter of when, not if, we hit new highs and have another leg up.

I'll be back after the open with today's breakouts report.

Enjoy your day!

Adam