Why This Market Is Coiling Up

Posted by Joe Duffy | Jun 3, 2026 | Joe Duffy's Trading Advantage | 0 |

The SPY is resting after 9 straight up weeks. Earnings for Oracle and Micron Technologies, two leading semiconductor stocks, report earnings next week. The market is likely to consolidate into those two events.

What we have seen over the last two plus weeks though, is the market starting to broaden out and more stocks participating. Previous to that fully 70% of the gains in the SP 500 came from just 10 stocks.

So while I do believe we are in a bubble, its no time to be thinking short side when the market is broadening participation. Eventually a very nasty correction is coming, just not yet.

One stock I like and bought Tuesday around 68.30 is OKLO. It is a speculative nuclear energy play related to AI. Even though the stock closed above 73 on Tuesday, I think a dip on Wednesday is still a buy. Stop loss under Tuesday low.

Thanks,

Joe

Wall Street Is Furious After working for one of the biggest banks to make them a fortune, Joe walked away and used his method to help others beat the street and make money for themselves. If you want in on the action, click here

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Joe Duffy

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