• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock The July 6-Month Calendar Range — SPY, QQQ, IWM, TLT
Stock

The July 6-Month Calendar Range — SPY, QQQ, IWM, TLT

by July 27, 2023
by July 27, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

After the Fed meeting, we thought it would be useful to see the July calendar ranges and give you a brief lesson in how to use them. Who is this for?

The price levels defined by this trading method have proven to be insightful in all markets. Longer-term investors can use this to identify longer-term trend inflection points. Active investors can use the price levels identified by the July Range as entry points for trades that can last days, weeks, or months.

Focusing on the July Calendar Range Breakout only:

  • The “Close & Continue” Breakout Pattern

“Close” outside the range “Continue:” Trade beyond the range of the breakout day

With an intra-day 30-min Opening Range breakout:

 • Stop levels

Close back in the range Move below (above) the range of the day that broke out Close & continue beyond the opposite range level

Looking at the SPY chart, we have had 7 trading days above the range high. However, to date, SPY has not really taken off from that level and sits more in consolidation mode.

451.93 is the green line or 6-month calendar range high. Should it hold, we would maintain a positive bias. Should it fail, we would most likely exit any long SPY position. And, should it continue to fail below the range high, we would consider that a potential short and perhaps top for the market-until such time-the price comes back above that level. At that point, the July 6-month calendar range low at 437.06 comes into focus.

Pay attention to the 6-month January 2023 calendar range as well as the July 2022 6-month calendar range. Most types of investors had lots of trading opportunities around these lines in the sand.

See more:

NASDAQ is already below its July 6-month calendar range. We are now watching the low at 363.41 as the next point. A break below would tell us the uptrend, for now, is over.

The Russell 2000 looks similar to the SPY chart. Currently trading above the 6-month range, the bias is positive unless the July range high breaks. Notice the distance between the July 6-month range high and low. That tells us that even with a break below, we have substantial room to fall without breaking the overall uptrend. This is unique to IWM, our main index focus for the 2nd half of 2023.

The most interesting chart for us is the long bonds or TLT chart. The “higher for longer” folks want to see TLT break under the July range low or 98.85. The “last rate hike before a pause and a pivot” crowd will want to see TLT clear above the July range high or 103.26. Note that once TLT failed the January 6-month calendar range high, it tested and held the 6-month calendar range low.

Now, with a new range, hopefully the next direction for bonds and rates will become clearer.

This daily is an abbreviation of MarketGauge’s 6-Month Calendar Range strategy setup and indicators. This strategy, tactics used to trade it, and market scans used to identify trading opportunities are covered in our ‘Complete Trader’ and ‘Mish’s Training’ programs. If you’d like to take this to the next level with more detailed instruction, the indicators, additional trade ideas, and live mentoring…

Click here to learn more: http://www.marketgauge.com/calendar-ranges

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

“I grew my money tree and so can you!” – Mish Schneider

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

This has been a very heavy week with the Fed meeting, tons of earnings, and, not to mention, all of the geopolitical issues around the world. Something that Mish has been thinking a lot about is store houses for raw materials, the places that actually hold every kind of raw material from mining, commodity trading houses etc. Mish dives into the stocks she’s looking at on the Wednesday, July 26 edition of StockCharts TV’s Your Daily Five.

Mish looks at a selection of popular instruments and outlines their possible direction of travel in this video from CMC Markets.

In this episode of The Breakfast Show from Money FM 89.3 Singapore, Mish makes sense of the recent resilience and worrisome trends in the market, delving on the various factors driving consumer confidence in the face of rising rates and inflation, the impact of A.I.-driven companies, and the ongoing geopolitical risks on commodities and equities.

Mish talks PCE inflation picks in this video from Business First AM.

Mish covers gold, oil, grains and the SPX — all actionable — in this video from CMC Markets.

Mish discusses recession, inflation, and AI picks on the open with BNN Bloomberg.

Mish and Angela Miles discuss the next moves for your money on Business First AM.

Mish talks her approach to being a professional trader in this Options Insight interview with Imran Lakha.

Nicole Petallides and Mish discuss crypto, basic materials, inflation and gold in this appearance on TD Ameritrade.

Mish and Ash Bennington cover a lot in this video from Real Vision, discussing everything from the Fed, to inflation, to the incredible move in stocks and what is next.

Mish talks day-trading tactics, currency pairs, gold, oil, and sugar futures in this video from CMC Markets.

Mish and Angie Miles talk tech, small caps and one new stock in this appearance on Business First AM.

Mish examines the old adage “Don’t Fight the Fed” in this interview on Business First AM.

Mish and Charles Payne talk the Fed, CPI, Inflation, yields, bonds and sectors she likes on Fox Business’ Making Money with Charles Payne.

Mish, Brad Smith and Diane King Hall discuss and project on topics like earnings, inflation, yield curve and market direction in this appearance on Yahoo Finance.

Coming Up:

July 27: Live Coaching

July 28: IBD Live

ETF Summary

S&P 500 (SPY): 452 July calendar range high now support.Russell 2000 (IWM): 193 is the 23-month holy grail.Dow (DIA): 35,000 support.Nasdaq (QQQ): Under its 6-month calendar range high, already showing signs of stress.Regional Banks (KRE): Consolidating over its July calendar highs; positive.Semiconductors (SMH): Holds here okay; needs to clear 161, under 147 trouble.Transportation (IYT): No UPS strike helped.Biotechnology (IBB): 128 support now to hold.Retail (XRT): Rally to the July 6-month calendar range high — now the fun begins.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

You Might Also Like
  • The Growth Trade is Back!
  • Analyzing the SPY: How to Know When the Pullback is Over
  • Stock Market Dips Below 200-Day Moving Average: Are Your Investments Ready for a Shift?
  • Biotechs Fall Apart with Dark Cross Neutral Signal
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Federal Reserve raises key interest rate to highest level in more than 20 years
next post
Hunter Biden’s rejected plea deal puts Justice Department in hot seat

You may also like

Yields Soar on Strong Jobs Report

October 6, 2023

Spotting Tradable Pullbacks after Trend Reversing Surges

March 1, 2024

Low Vol To High Beta Stock Rotation Is Surging

July 14, 2023

The Halftime Show: Deciphering the Fed After Jackson Hole

August 30, 2023

Intermediate-Term Participation Levels Are Very Overbought, and They Are Weak...

December 28, 2023

META’s Reverse Island – Two More Mag Seven Islands to...

April 26, 2024

S&P 500’s A-D Line at New High

July 8, 2023

1st Quarter — QE Boosts Commodities and Stocks

March 31, 2023

Hidden Gems: A Simplified Method to Find the Best Stocks

July 19, 2023

Viewer Questions: How Does the Fed Manipulate the Yield Curve?

January 19, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,449 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    The Fed Needs to Act Soon;...

    March 20, 2023

    Communications Trying to Prop Up Equity...

    December 16, 2024

    What Happens to GOOGL When This...

    May 28, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here