See what’s driving market performance around the world in today’s Morning Lineup. Bespoke’s Morning Lineup is the best way to start your trading day. Read it now by starting a two-week trial to Bespoke Premium.  CLICK HERE to learn more and start your trial.

“It takes less courage to criticize the decisions of others than to stand by your own.” – Attila the Hun (attributed)

Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.  

US equity futures are bouncing back to start the new trading week with the S&P 500 trading up roughly 0.7% pre-market, and the Tech-heavy Nasdaq 100 up about 1.3%.

After a 33.7% rally from March 30th through last Tuesday’s close (6/2), traders finally rotated out of the QQQs late last week with a 5% drop from Wednesday through Friday.  The S&P 500 ended a nine-week winning streak, and both the S&P and Nasdaq 100 moved out of overbought territory back to “neutral” levels.

As shown below, even with the drop on Friday, there’s still quite a large gap between current levels and the 50-DMA for both QQQ and SPY.

You can see the pullback into neutral territory in the snapshot of key index ETFs from our Trend Analyzer:

Start a two-week trial to Bespoke Premium to continue reading today’s full Morning Lineup.