EB Daily Market Report - Brief Update - Tuesday, June 30, 2026

Weekend Schedule

We do not plan to update many of our ChartLists this weekend as there are very few earnings reports, so there'd be little change any way. We do plan to publish our normal weekend reports, however.

Market Update

Over the past few days, I've spoken about the solid reward to risk available in trading the Mag 7 stocks - AAPL, MSFT, NVDA, META, GOOGL, AMZN, TSLA - because they've been left behind recently as semiconductors, excluding NVDA and AVGO, have been leading our major indices higher. One way to do so is by trading the iShares Russell 1000 Growth ETF (IWF). It's not entirely Mag 7 stocks, but 61% of the ETF is invested in its top 10 holdings, which include all of the Mag 7 stocks. Furthermore, 53% of the IWF is invested in technology and nearly 80% of the IWF is invested in the combination of technology, consumer discretionary, and communication services.

Technically, I like the breakout of this bull wedge:

As for the overall market....

Our major indices are higher, with key leadership from technology (XLK, +2.76%). Industrials (XLI, +1.26%) are also strong, while defensive sectors like real estate (XLRE, -1.50%) and consumer staples (XLP, -1.24%) lag.

Keep in mind that this is the last trading day of June. The last trading day of a calendar month and the first two trading days of the next calendar month have historically been the best days to be invested in the S&P 500 since 1950. That seasonal pattern takes us through Thursday, or the end of this holiday-shortened week.

Happy trading!

Tom