Date: July 2, 2023

Monthly matters. Bullish MSFT.

GDXJ - Short term upside to 38.90.

M2 growth is printing negative for the first time in ~90 years

headline CPI minus the Fed Funds rate

Speaking of NDX, the July seasonals are superb: up 15 of the last 15 for an average return of 4.64%:

horizontal axis is 2022 returns and the vertical axis is 2023 returns

6-week trading range in S&P