Happy Friday Everyone,

I just wanted to touch base quickly today to let you all know that we won’t have a Stock Trading Alert on Monday, July 5th in observance of Independence Day. US equity markets will be closed as well on Monday. If you are a futures trader, be sure to know the Holiday trading hours in your product - these can be found on the exchange websites.

Today, we had a bullish NFP print, with gains of 850K jobs versus 725K expected. As would be expected the $SPX has rallied off this number, adding on .62% the last time I checked.

In addition, it is the day before the Holiday, and markets like to drift higher on light volume on days like this.

I do notice that we have a very overbought hourly RSI(14) in the $SPX, with readings approaching 90, and the daily RSI(14) is now above 71. Today could be a good day to lighten up on existing positions, if you so choose, and take advantage of this short-term overbought condition.

For the markets we are following, I see no reason to trigger sell alarms here; since each market has a particular underlying theme that we have been following.

However, if you are long the index ($SPX), it could be a great time to get out ahead of the weekend and head into the weekend flat.

There is no reason to chase the market today and buy anything this afternoon.

Enjoy the Holiday weekend with your friends, family, or just by yourself. Rest and enjoy life.

The markets will be waiting for us next week!

• Rafael

I have BUY opinions for:

• Defiance Quantum ETF (QTUM) between $44.00 - $49.50. Update 07/02: This one wants to break $50.00 - it is close. This is a play in automation, robotics, and AI. Always use a stop loss level that caters to your individual risk tolerance.
• Amplify Transformational Data Sharing ETF (BLOK) between the 200-day moving average and $40.00 200-Day Moving Average is currently $40.43 Update 07/02:Waiting for pullbacks, still. Always use a stop loss level that caters to your individual risk tolerance.
• Invesco MSCI Sustainable Future ETF (ERTH) between $65 and $66. Update 07/02: If not on board yet, wait for pullbacks. Always use a stop loss level that caters to your individual risk tolerance.
• Invesco Exchange-Traded Fund Trust - S&P SmallCap 600 Pure Value ETF (RZV) on pullbacks. Update 07/02: See Yesterday’s Publication. I hope you got it near the 50-day MA of $93.88 or in the low to mid $94’s. Always use a stop loss level that caters to your individual risk tolerance.
• iShares Global Timber & Forestry ETF (WOOD) Initial buy idea zone between $79.07 and the 200-day moving average ($80.94 as of 07/01). Update 7/02: No change in outlook here and this one has held up very nicely. Look to add the 2nd tranche between $80.894 (200-day SMA) and $80.00.
• Invesco Solar ETF (TAN) Update 07/02: If not long already, or looking to add to a position, consider the 200-day moving average (currently $86.91) as a spot to consider getting long or adding. Always use a stop loss level that caters to your individual risk tolerance.
• First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). Update 07/02: No change and look to $90 level for potential entries if not already long. Always use a stop loss level that caters to your individual risk tolerance.

I have SELL opinions for:

NONE

I have a HOLD opinion for:

NONE

Thank you,

Rafael Zorabedian
Stock Trading Strategist