Before we start, we'll trim 1/4 of Webull (BULL), taking us down to 1/4 the original position.

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The market has been acting very well and I'm glad we've participated with names like Nvidia (NVDA) and Webull (BULL).

Remember, our policy is to hunt for setups... not to predict doomsday scenarios.

It's hard to read too much into today's action because it's a short day into the July 4 holiday, but for now, the market is reacting well to the jobs report.

The economy remains "good enough" to keep recession fears away.

But, rate cuts may be less likely, especially since the market refuses to back down.

Since we kicked off a new quarter, I'll list out some things I'm looking for.

First, I want SPX to hold the 6177 area. That's your line of the sand so put it on your radar.

I also want to see XBI and IWM resume their uptrends, which would support the case for a risk-on environment.

The third week of July will also be important.

It's common for the market to rally for the first two weeks of July before digestion or a dip.

And then a 4-6% Q4 SPX rally would be likely,

For now, we'll take things day by day, looking for new opportunities.

Now let’s talk about our current names:

AST SpaceMobile (ASTS) looks on the verge of a nice rally, though we have to be ready to add on a pullback because it's so unpredictable. It's not for the faint of heart but I like the risk-reward.

SPDR S&P Biotech ETF (XBI) appears ready to break through the $86 area to drive a real rally. It's a big focus for me here at the start of Q3.

Amazon (AMZN) looks fantastic and I see potential for it to see the $230 area in short order.

WeBull (BULL) got off to a slow start and then ramped hard this week to nearly see $15 on Thursday. We are down to 1/4.

Nvidia (NVDA) has been a monster and is within striking distance of the $160 area. We are down to 1/3 and I would not chase it up here.

Enjoy your weekend!

-Scott