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Monday, June 15, 2026

Space Junk, Dead Airlines, and America's Lost Decade

$SPCX closed its first trading day right where it opened — around $160. The 1-minute chart shows a downturned megaphone. Classic consolidation. Watch for a pop Monday morning — new all-time highs, or a head-fake? You already know what I think. ðŸ‘‡     

$DJUSAS Dow Jones Aerospace actually closed lower (-61%) after touching a slightly higher intra-day high. I still think it can go higher. [Link to Friday's chart] 

$DFEN Direxion Daily 3X Leveraged Aerospace & Defense Bull - if the Iran deal falls through, watch for defense names to help lift this one into the stratosphere! Probability seems high; given Trump's record. You may want to set stops when trading leveraged ETF, and review my warnings & guidelines "Word to the Wise: Leveraged ETFs Are Not for the Casual Investor". 

$RKLB Rocket Lab - 1 of the 4 space stocks  - being added to the Nasdaq -  in the article I headlined on Friday [link] pulls back to the 50 day SMA. New highs in the cards. 

Space: The Final Frontier... or Flavor of the Month?

Let's be honest. Space is just the latest in a long line of heavily pumped — and eventually dumped — narratives Wall Street uses to separate retail from their money. We've seen this movie before, cast of characters highlighted in the latest blog (in the P.S. section) — starting with China. 

Dumpster Fire Roll Call Starring 

$ASTS AST SpaceMobile - Starlink competitor, pumped and dumped, right on schedule! Heavy selling volume hit on SpaceX IPO day. Funny how that works.

Chart

After lighting the match on $SMCI Super Micro Friday, I found more candidates to add to the pile. 

The list of stocks making lower lows keeps growing. Is it any wonder the broader market can't hold onto real gains?

Priced In Since April. Now What?

Airlines (another dead sector) are higher on this morning's news, but this is part of the same pricing-in we've seen over the past 2 months. How many times can Wall Street price in the same deal? I'm afraid investors in airline stocks are about to find out the hard way!  

The $NYSE - Same Range Since February   

$NYSE looks poised to finally make a new closing high — its 7th retest in two months. Unimpressive, when you realize it can only pierce a new high on the 47th Iran FOMO news report. 

The pattern mirrors the upturned triangle I flagged on the Dow Aerospace chart. Until the breakout is confirmed — sell the rips.

America's Lost Decade In Full View   

This is what a bear market looks like when nobody's allowed to call it one.

$NYHL — NYSE new all-time highs vs. new all-time lows. Dismal. Market breadth continues to wither. Only a handful of sub-sectors and a handful of stocks can stage short-lived rallies — and only during earnings season. Traders have already figured it out. They've pivoted to South Korea, India, and Europe — all still outperforming US markets.


The Fed's hands are tied. Goldman raised their year-end $SPX target to 6000 on May 20th. Right on cue.

Trump's Iran deal feels rushed — conveniently timed for the G7 and Kevin Warsh's debut at the Federal Reserve. Short covering into the 4th of July could prop things up. Or the market gets dumped squarely in Warsh's lap on day one.

Either Way - Risk Off 

P.S. For context on the lousy relative (broader market) gains — Looking at The $SPY Forest Through The AI Trees — nearly a month ago, and still relevant.


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