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Is Goldilocks Pushing Out the Bears?
David Russell
June 12, 2025

Downloads are available here. TradeStation’s ideas on TradingView are available here.

Check out our next “State of the Market,” on Monday, 6/16. The next Market Trends on Thursday, 7/10.

Sizing Up the Market

  • S&P 500 in narrow range near February highs
  • Advance/Decline line’s last new high was 5/19
  • Range narrows as MACD flattens
  • EMA ribbon potentially aligned for uptrend
  • Intermarket analysis
    • 10-year Treasury yield stalls under 4.5%
    • U.S. dollar index hits new 3-year low after mild CPI reading

S&P 500, daily chart, with select patterns and indicators.

New Stories in the Dow?

Gainers:

  • INTC: Optimism on Raptor Lake thin-chip success
  • IBM: Leading the DJIA in 2025 on AI + quantum
  • DIS: Quietly makes new 52-week high on streaming success
  • CSCO: High of $82 from 2000 in sight?

Laggards?

  • AAPL: WWDC fails to dispel AI worries
  • MCD: Analysts see demand hit from weight-loss drugs

Upcoming Events

  • Fri 6/13: Consumer sentiment
  • Tue 6/17: Retail sales, NAHB sentiment
  • Wed 6/18: Housing starts/permits, crude oil inventories, , *Fed + Dot Plot*
  • Thu 6/19: Market closed (Juneteenth)
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About the author

David Russell is Global Head of Market Strategy at TradeStation. Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.