PULL OF STOCK MARKET MAGNET TOO STRONG FOR MUSK CALLING TRUMP’S BUDGET A “DISGUSTING ABOMINATION”
By Nigam Arora
To gain an edge, this is what you need to know today.
Stock Market Magnet
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows that the pull of zone 1 as the stock market’s magnet is very strong.
- The chart shows that RSI has now become barely overbought. This indicates that there is room for the stock market to move to zone 1, but the stock market can also pull back due to overbought conditions.
- Elon Musk is calling President Trump’s budget a “disgusting abomination.”
June 4, 2025