Chapters
00:00 Intro
01:52 Nick: QQQs Reclaim the Pivot, Eyes on 775–800
05:37 GP: $RKLB's Gap Fill, OUST & Quarter-End Rotation
07:15 $TSLA's 9% Bar & the Dot-Com Doubling
11:36 Bitcoin's Double Bottom & $MSFT's Record Volume at 350
17:10 Where Rotation Goes: Cyber, Space & $DELL
20:23 $CRWV: Battle Zone, Engulfers & the Neckline
22:36 $HIMS, $LLY & $MRNA
29:36 $RDDT: Trade or Investment?
34:22 Space: $ASTS, VSAT & $PL
38:47 GP's Quarterly Charts: $IBM, Wayfair & $RIVN
44:04 $ROKU's Arbitrage & $COIN's Quarterly
49:29 ARKG & $GH Levels
57:02 Final Words
Market Hours #183 went out live on Tuesday, June 30, with Ben, Nick and GP, on the last day of the quarter. The QQQs had reclaimed a pivot after a rough prior week, and GP had gone through about 500 charts by hand over the weekend. He concluded the market was repeating last quarter's playbook. They covered where the rotation money might go, CoreWeave and HIMS setups, whether Reddit is a trade or an investment, the space names, and GP's quarterly charts, which drew a long, good-natured argument about Rivian.
Nick's setups, levels and trades
Nick said the week was off to a strong start after last week's "hockey stick to the legs." Breakouts were getting follow-through, and both breakouts and backfills were working. In the group's text thread, he'd argued the QQQs needed to resolve sooner rather than later after a two- to three-month rip, giving the 50-day time to catch up. On the pullback, they held the mid-range at the 50-day. If you'd been stopped out, you could play against the 727 pivot or through the prior day's high. It had a small inverse head-and-shoulders look, and on a breakout he saw an ABCD leg up toward 775–800. His advice: "Know the stocks you want to be in and pick your spots." Some names were getting wrecked, but drones and space were reclaiming their moving averages.
On rotation, he thinks the cybersecurity (HACK) names are just getting started. They were three days into a pop off converged moving averages and butting up against the pivot high, and CrowdStrike had offered an entry as it held the 10 and 20. If space and rocket names hold the 200-day, he thinks they're ready, and Intel and Marvell looked fantastic. On CoreWeave, he likes the IPO base and the inverse head and shoulders on the weekly. He joked that he bottom-ticked it the day before: he tweeted "gross" when it looked like it was losing the 91 pivot low, and it reversed right away. His plan was to wait for an engulfing close for a signal, or else just trade against about 88, under the wick low. The real trade doesn't start until it clears about 130–140, the neckline.
He's traded HIMS well from the mid-20s, though he oversized a couple of times and chopped himself out. He sees it working back through a 30–60 range, so holding the 30s could mean a run back to the highs. He called Eli Lilly the alpha in the group after its pullback toward about 1190, and named Moderna as his third focus. He credited MBG for never doubting MRNA. He isn't in Reddit and has "this weird stupid FOMO" about it. In space, he sees ASTS, Rocket Lab and SpaceX as the leaders and VSAT as a mellower ride. He'd own a basket of leaders and trade around high flyers like FLY. PL looked like a tap-and-go off the 200-day. To him it feels like a whole new industry, much as crypto once did: "You're not early, but you're not late either."
ARKG is a Roth name for him (he holds several of Cathie Wood's ETFs there), and he thinks it's going stage two with IBB and XBI. After the rip, he'd want a pullback to 37–38 and expects resistance around 40–43, where a descending channel from 2022 began. It's extended from the 5- and 10-week and the 50- and 200-day, so the smarter play is to let it consolidate, maybe three or four weeks tight, using Fibs from 25 and 30.50 for confluence. On the monthly, he'd want it to hold 39–40. GH was completing a CD leg that ends around 165–170. If you're already in, don't touch your cost basis; if you're not, it's just a short-term continuation trade. His final word: there's a fine line between holding yourself accountable and being too hard on yourself. He stopped journaling for a long time because he kept ragging on himself, so "lift yourself up, not beat yourself up."
Ben's setups, levels and trades
Ben was the wet blanket. All the QQQs had done was make lower highs and higher lows, which forms a wedge, so they could stay range-bound for a while. He was still much more confident about this week's action than last week's. He loves CoreWeave above 100, or "plus 99." It was wicking out of a battle zone on the weekly and eventually needs to break the 125 pivot on a weekly basis. Jensen and other buyers came in in the 80s and upper 70s, so there are layers of support below. His view is longer term. Nick's version of the trade, risking about 88 for a move to about 125, was about 10 to make 25 to him.
On Dell, with a short holiday week and no market Friday, he said a close above about 425 would break it out of its tight range. On Reddit, his rule was simple: buy it anywhere in the 170s, but know you're risking 165. Below that it gets squirrelly, and 120 is possible. The chart had improved a lot since Joey first brought it up. On ARKG, he noticed a near-perfect monthly check-back off the confluence of monthly moving averages and said a 38–39 entry should be taken "with both hands and feet," though he doubted it would come back that far if XBI and IBB kept going.
On Rivian, he holds a long position for his kids and said there's no hate, but it's still in stage one until it breaks its range. He spent two and a half to three years trading the range to lower his cost basis. He'd rather wait for the breakout, maybe past $26, much like the gold call they made years ago. That kind of wait comes with opportunity cost. His final word: someone told him most of success is showing up. He'd say 80% is showing up and trying, and the other 20% is actually doing your best.
GP's setups, levels and trades
GP said it all comes back to pivots. Rocket Lab went from 151 to 80 in about three weeks and filled the gap, which gave him a tradable earnings pivot and an entry. OUST, entered in the 39s, was at 62. It was month-end and quarter-end, and he wanted to see weakness in memory and strength in laggards. Tesla had its first real 9% move since the 2024 breakout and took out the 10-, 20-, 30-, 40- and 50-day in one bar. He asked for memory and chips to "breathe" in Q3 while money rotates into laggards like Meta. Then, if they rise together, he'd look to the dot-com run, when the QQQs doubled in about five months into March 2000. He said he didn't expect that to actually happen. This quarter-end looked like March 30: if mega caps stop selling, the market rockets, and the March 31-to-May OPEX run could repeat from here into August OPEX.
After going through about 500 charts, he found the same pattern as last quarter. Microsoft's stand at 350 was the highest-volume daily bar since September 19, 2014. That's institutional support, so if 350 breaks with a bang, it's a clear short that will accelerate. Bitcoin had a double bottom against February at its 2021 all-time-high level, though he wanted a quicker retest. When he's in a "WTF" mood, he said, it's his sign to do more work. Even if he's someone's contra-indicator, "I still made you money."
His rotation pick was Dell, with a $53 billion backlog, about $80 billion in revenue and a roughly $260 billion valuation. He thinks it's doing what the chip names did: report big, go sideways for months, then rip, like Intel after its October 2025 breakout or AMD, which consolidated after its gap, sprang off a false breakdown and ran from about 193 toward 600. He was in CoreWeave from the 70s, but its apathy bothered him. Names that don't behave tend to retest, as Circle had nearly filled its earnings gap. HIMS could be a three-week tight, but it often flushes to frustrate everyone first, so a 26–28 entry beat chasing if it's headed to 60. On Eli Lilly he called the pullback a weekly breakout retest. He thinks Reddit and CrowdStrike are investments, not trades: Reddit could fall from 170 to 120 and still be bullish. ASTS did about $14.7 million in revenue last quarter yet is everyone's space favorite, while he's in the Rocket Lab camp on fundamentals.
He focused on quarterly charts. IBM had an inside-outside quarterly bar after going nowhere since January 2025, a "shake before bake" accumulation look, and it hammered above the 200-day. Wayfair's quarterly showed classic accumulation. Rivian, a roughly $20 billion company whose nearest competitor is worth about $1.4 trillion, could be a 10–20x if it executes, and he'd been telling friends to load up under 14 and trade the range. Roku was a waiting arbitrage at 138.36 pending the buyout, and COIN's quarterly looked like it could retest the lows. He sold APPS at around 6–7 after buying it near 2 and put the money into Rivian, and "APPS goes nuts." His final word for the quarter: "The market beats you up enough. Don't beat yourself up."
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