Stock Index: ES, NQ, YM Weekly Update

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📈 S&P 500, Nasdaq & Dow Jones – All-Time Highs, But Caution Creeping In

🟩 S&P 500 | Nasdaq | Dow Jones

All three indices hit new all-time highs to close out June.

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🔋 AI optimism

💰 Solid earnings

🕊️ Dovish Fed tone and falling bond yields

SPX continued its breakout run

Nasdaq surged as big tech led the charge

Dow followed with slower but steady strength

⚠️ But Watch the Signs Beneath the Surface
Consumer confidence dropped sharply

Home sales weakened

Fed speakers remained non-committal on cuts

All three indices now look extended — particularly Nasdaq

Momentum remains bullish, but these rallies are now resting on softening macro, yield compression, and hope that the Fed stays on hold.

🧠 Key Takeaway
Price action is euphoric — but fundamentals are flashing mixed signals.
When tech leads the market at extremes, volatility risk is elevated.

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