Summary
While the S&P 500 and S&P 100 continue to close in on their early June all-time highs, the Nasdaq 100 (QQQ) remains in a triangle, getting closer and closer to the apex. With all the wild moves within technology, it is surprising that the QQQ price range is tightening as the ETF puts in higher lows and lower highs. The ETF is at the same level as it was two months ago, the daily Bollinger Bands (BBs) are cinching — with the width of the BBs closing in on the tightest levels we’ve seen this year. When volatility tightens, it can sometimes lead to a good-sized move (either way) in an index or individual stock. Technology earnings do not start flowing heavily until the last week of July, so it’s possible we see more directionless trading. There have been some decent moves in crypto currencies this month. Of the three we follow (Bitcoin BTC, Ethereum ETH, and Solana SOL), ETH looks the most interesting. They all remain in wicked bear markets since BTC’s October 2025 all-time high, ETH’s 8/2025 peak, and SOL’s 1/2025 top. On the weekly chart, ETH appears to have completed a five-wave decline and is sitting right below its bear-market trendline. On the