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Good Wednesday Morning, MPTraders! June 17, 2026-- Pre-Market Update: -- Today is and will be all about new Fed Head Kevin Warsh's impact on the FOMC, on the wording of his first monetary policy statement, and on the markets during his inaugural press conference...
Let me lay out what we actually know now, because the picture has filled in considerably.SpaceX priced at $135 on June 11 and opened to the public the next day. It sits near $185 as I write this — up better than a third from the offer in a handful of sessions. The headline market cap reads $2.44 trillion. Hold that number loosely, because it is not what it appears to be.Here is why. Only about 4% of the shares are actually trading. The other 96% are locked. So that $2.
Well, since not much has really happened there is really not much to add to the recent analysis. So, I am simply going to add a couple of points from the daily SPX chart I am including in today’s update.As you can see, price has come back to the uptrend line and we seem to be hitting our heads on it as we speak. Moreover, the MACD has not crossed up yet to even begin a suggestion that this is a sustainable rally.
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