| Small-Caps Trip Fresh High The stock market showed strength for the second-straight session while bouncing off their midweek lows and the small-caps tagging a fresh record peak. Friday’s gains helped the bulls close out a positive week but there are still a couple of technical issues that favor the bears. The Nasdaq closed at 25,888 (0.3%) after making a run to 26,010. Resistance at 26,000 was topped but held. Support is at 25,000. The S&P 500 traded up to 7,456 before settling at 7,431 (0.5%). Resistance at 7,450 held. Support is at 7,400. The Dow ended at 51,207 (0.7%). Resistance at 51,000 was reclaimed. Support is at 51,500. Earnings and Economic News Before the open: Canopy Growth (CHC), Comtech Telecommunications (CMTL) After the close: Domo (DOMO). High Tide (HITI), RF Industries (RFIL) Economic News None Technical Outlook and Market Thoughts For the week, the Nasdaq and the S&P 500 were up 0.7%. The Dow added 0.6% while the Russell zoomed 3.7%. Year-to-date, the Nasdaq has jumped 12% and the S&P is higher by 9%. The Dow has advanced 6% and the Russell has soared nearly 19% this year. The Nasdaq tagged a high of 26,010 on Friday. Resistance at 26,000 was cleared but held. Closes above 26,250 and out of the current downtrend channel gets 26,750 back in focus. There is near-term upside to 28,000-28,250 on continued closes above 27,000 and the June 1st all-time high at 27,190. Support is at 25,500-25,250 and the 50-day moving average. Closes below 25,000 would be a very bearish signal. |
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The S&P 500 traded up to 7,456 and needs to clear 7,500 to break out of its downtrend channel. On May 15th we predicted strength towards 7,600-7,750 with the June 2nd peak hit 7,620. Support is at 7,400-7,350. Closes below 7,225 would be a bearish development with risk down to 7,150-7,100. |
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The Russell hit a fresh all-time high at 2,969 on Friday with our April 17th upside targets at 2,900-3,000. Closes above the latter gets ongoing momentum towards 3,050-3,100 on the map. Fresh support is at 2,925 with additional help at 2,900-2,875. A drop below the latter gets 2,800 and the 50-day moving average back in focus. |
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The Dow traded up to 51,415 with lower resistance at 51,000-51,500 getting cleared and holding. We said there is blue-sky territory towards 53,000 from our April 17th notes on closes above 50,500 and the previous February 10th all-time peak at 50,512. These aforementioned price levels are still in play for the blue-chips as long as key support at 50,000 holds. Closes below this level and out of another readjusted uptrend channel would be slightly bearish for weakness down to 49,500-49,250 and the 50-day moving average. |
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The S&P 500 Volatility Index (VIX) made a miraculous recovery on Thursday’s intraday market reversal after closing above 22 on Wednesday. We have warned closes above 22-24 would be a bearish signal for the market with upside towards 30-31.50. The bulls avoided disaster last week but we will continue to watch these levels going forward. We also said coming into last week the bulls need to get the VIX back below 20-17.50. Thursday’s close back below 20 was all we needed to see to stay bullish on the market. |
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Futures are showing a strong open for Monday morning following a peace deal with Iran. However, it isn’t expected to be signed until Friday so watch out for any possible curveball that could ruin the market’s momentum in a split second. Dow futures are up 434 and the Nasdaq futures are surging 515 points as we head to press. S&P futures are rocking 83 ticks and the Russell futures are zooming 46 points. Momentum Options Alerts Update for 6/15/2026 Closed Momentum Options Trades for 2026: 29-6 (83%, 8 triple-digit winners); 2025: 55-20 (73%, 17 triple-digit winners); 2024: 77-17 (82%, 38 triple-digit winners); 2023: 34-11 (76%, 8 triple-digit winners). Overall: 195-54 (78% win rate) 70 triple-digit winners. Please remember, all “Exit Targets” and “Stop Targets” are targets. You should not have any “Stops” entered to close any alerts or “Limit Orders” in your brokerage account unless we list one. We will send out an “Alert” or “New Alert” if we want you to close a position or if a new position comes out. Otherwise, follow instructions at all times in the updates on Monday’s and Thursday’s along with Text Alerts and videos throughout the week. Text Alerts (Telegram):Velocity Options: https://t.me/+uzxYHX8YEh85MzYx Cleveland-Cliffs (CLF, $13.78, up $0.07) Option: CLF July 16 callsExpiration Date: July 17th, 2026Entry Option Price: $0.45 (6/11/2026)Current Option Price: $0.50Exit Target: $0.90Return: 11%Stop Target: None Action: Key resistance at $14 held by a penny following Friday’s run to $13.99. Support is at $13.75-$13.50. Shares can be volatile at times but a golden cross is in the process of forming with the 50-day on track to clear the 200-day moving average. Closes above $14 should get a quick run to $15.25 in play with breakout potential to $16.50-$16.75. We like the Alert as long as $12.50 holds. |
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Snap (SNAP, $5.26, down $0.07) Option: SNAP September 7 callsExpiration Date: September 18th, 2026Entry Option Price: $0.55 (6/1/2026)Current Option Price: $0.35Exit Target: $1.10Return: -36%Stop Target: None Action: Friday’s low tagged $5.16 with upper support at $5.25-$5 getting tripped but holding. Continued closes below the 50-day moving average and the latter would be a slightly bearish development. Resistance is at $5.50-$5.75. These options have 95 days before expiration. We like this Alert as long as $4.50 holds going forward. |
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Richtech Robotics (RR, $2.13, down $0.17) Option: RR July 5 callsExpiration Date: July 17th, 2026Entry Option Price: $0.30 (5/27/2026)Current Option Price: $0.05Exit Target: $0.60 |