Wall Street Closing Mixed
- Dow Jones: 51,712.71 (+148.01 / +0.29%) — Closes near recent highs.
- S&P 500: 7,472.79 (-27.79 / -0.37%) — Closes mixed.
- Nasdaq Composite: 26,166.60 (-351.33 / -1.32%) — The weakest, pressured by tech stocks.
- Russell 2000 (small caps): approx. +0.83% (best performance).
Context:
- Mixed session: The Dow remained positive and touched records, while the Nasdaq suffered due to drops in tech megacaps (Alphabet/Google fell ~5%, Amazon ~4-5%, Meta and Nvidia also down).
- SpaceX (SPCX): Sharp drop of -16.4% following its recent IPO, erasing much of the initial gains.
- Oil: Fell slightly (WTI ~74-75 USD), following progress in negotiations between the US and Iran that reduces tensions in the Strait of Hormuz and increases supply expectations.
- Others: Gold stable/slightly up. Bond yields rose slightly.
In summary, market rotation: strength in value/industrials and small caps vs. weakness in growth/tech. The Dow is holding up better and the market in general shows resilience despite volatility in megacaps. WSJ
NOK, SNDK, and SPCX: These have been my Top Picks since January. While NOK is a low-volume CEDEAR, it managed to capitalize well on an underlying asset that refuses to stop being a sensation; I say this because it has been the most traded ticker in NY for two weeks. Since August '25, it is up 240% today, reaching 330% in early June.
Here we see NOK NYSE with my "full cook" indicator development; in the weekly view, we see red zones indicating moments when its rally goes wild, exceeding volume climax, high z-score, ROC above the threshold, divergence, and exceeding Bollinger bands. My view is that it still needs to digest part of the rise; many analysts have a Price Target of 21, and I can clearly state it is entering a very good business: automation and AI solutions for industrial plants where robotic teams can receive new or corrective orders in milliseconds. Additionally, the 5G and 6G business where it holds the most important patents, surpassing those of MSI (Motorola) and the fallen Ericsson.
Regarding SanDisk $SNDK, I can only say I detected it in January and the memory business is exploding as a bottleneck for AI. But it's not the only bottleneck; there's also sufficient energy generation, processing/semiconductors, cooling, data transmission (optical fibers like $GLW), and naturally copper. Last year I coined the commodity boom in a simple perspective: Without copper there is no AI, without Silver there is no electrification, without Uranium there is not enough energy, and without Gold there are no prices. Commodities move slower than Big Tech but contribute a lot because they outperform the SPY, so they could be good hedges.
As the indicator says, SanDisk is currently "burning up"; the 4000% annual rate is exhausting its strength. My question is whether Stanley Druckenmiller (who put 150 million USD in $YPF) has already exited the 600 million he put into $SNDK.
$SPCX is easy; it erased the gains from its launch. I took good advantage of the short trade, buying Friday and exiting the following Tuesday, 3 days later—too much hype in a system with 25% small investors willing to do anything without much reason. 75% of the IPO was assigned to large banks and funds. My perspective is to let a few months pass; the company is wonderful, with goals it can meet that no one imagined 5 years ago. All its businesses can be described with feet in the sky or in orbit, solving many datacenter problems once they are hosted in orbit and data transfer is via optical laser. Also, Starlink is a massive solution attracting more people and governments to provide coverage to the 25% of the world population living far from broadband.
MERVAL and BYMA
The Merval today traded a figure similar to Friday's, about 530 billion pesos if we include ADRs—an estimated calculation that translates to 56 million Big Macs, half of what's needed to consolidate price or trend. The price fell -0.42% today, mainly driven by banks. Let's look at the ADR panel:
We see the drop in $SUPV -9.31% and higher volume in $GGAL than in $YPF. All ADRs are negative, waiting for a signal from MSCI for 2026 that could come this Wednesday.
That MSCI signal could have a greater impact on Bonds; given the volume traded in these two weeks, it might be a strong speculative trade and the upward momentum could end. The ADR market knows how far to get involved and doesn't forget the 2027 elections; it will attempt some price exits like the recent ones, providing liquidity and changing hands.
Regarding CEDEARS, local perception and sentiment are improving for $IBIT and $ETHA. We shall see.
This report is strictly educational, IT IS NOT FINANCIAL ADVICE OR A PURCHASE RECOMMENDATION, even when tracking purchases and sales; therefore, I recommend using a Qualified Advisor or DYOR.
