Daily Pre-Market Trend-Following Trade Plans | June 23, 2025

Today’s edition: Market looks neutral; 60% capital deployed in bullish setups.

📈 Market Trend

It is 8am and so far, the Iran related events over the weekend are not causing panic in the markets. In fact, it feels like a normal Monday morning.

From a medium-term perspective, I remain bullish as we saw in the weekly chart of the SPX. See the note here.

From a short-term perspective I am neutral as this week could decide whether stock market continues to remain bullish or shows more weakness.

Seems like a lot depends on the Iran situation. If they close Hormuz all bets are off. My hunch is they will not.

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📊 Position Overview

• Capital Deployed: 60%

• Trade Bias: All trades are long trades. Long stock/ETF 73%; Call spreads 27%

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📰 Macro Watch for Today

• S&P Global Manufacturing PMI (Jun) (9:45am ET)

• S&P Global Services PMI (Jun) (9:45am ET)

• Existing Home Sales (May) (10am ET)

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🔥 Top Ideas for Today