The market chewed up a lot of mixed news this week -- like Apple’s (AAPL) WWDC event, the FOMC Rate Decision, the CPI, PPI, etc. -- and came up smelling like roses.

Tech has showed remarkable relative strength in June, with the QQQ’s outperforming SPY by more than a 2:1 ratio, thanks to big moves in the semis like Nvidia (NVDA) and Broadcom (AVGO).

In all, it feels like time to take things slow and be more careful when picking our spots.

It’s been a good week for traders and investors alike, and it’s not the time to blindly chase strength.

Note that next week’s calendar is pretty light and the action might be thin because of the Juneteenth holiday on Wednesday.

So we’ll be on our toes for any downside action.

Now let’s look at our current Power Plays:

Apple (AAPL) has been nothing short of a monster. The WWDC event was deemed to be a disappointment but the dip buyers came in and the stock hit a record high of $220.20 on Wednesday. We still have a third on for Power Plays which we’ll let ride for now.

Meta (META): we added this back on Tuesday. So far, it looks fine. It needs to break above the $515 area to get a rally in motion.

Microsoft (MSFT): we also added this to Power Plays on Tuesday, and it’s had a decent pop, giving us the close over $432 we wanted. The pattern looks great and I expect nice upside from here.

SLV June 21 $30 Calls: unfortunately SLVs’ rally stalled out, and these calls will most likely expire worthless next week.

Have a great weekend.

-Scott