Weekly Market Recap, Watchlist & Trade Highlights 07/07/25

Continued new all time highs, smallcaps break out as breadth expands

Jul 06, 2025

Market Recap

Despite the shortened trading week due to the Independence Day holiday, major indices surged into new all-time highs:

SPY 0.00%↑ and QQQ 0.00%↑ both closed at record levels, continuing their upward momentum.
On Tuesday, the Russell 2000 (IWM 0.00%↑) saw a strong breakout above its 200-day moving average, signaling renewed strength in small caps and broadening market participation.

On Friday, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law. The bill delivers major tax cuts and spending shifts that could impact healthcare, green energy, and consumer sectors. One positive sector that benefits is the defense sector, as the bill includes $25 billion in new funding for the Golden Dome missile defense system.

The original tariff pause, which was set to expire on July 9th, has been extended to August 1st, as U.S. Treasury Secretary Bessent announced on Sunday.

Another thing worth noting is that July has historically been a strong month for equities - over the past 15 years, July has ended negative only once:

Watchlist

$BTC remains a top watch following a constructive move on the daily chart:

On Wednesday, BTC formed a higher low, pulling back and successfully holding the 50-day moving average
The pullback came after a test of the $110,500 resistance zone, last seen in early June.
A confirmed breakout above the $110,500–$111,000 range would establish a new daily higher high, potentially signaling the start of a new leg in the overall uptrend.

BMNR 0.00%↑ emerged as the standout momentum play last week:

The Ethereum treasury stock surged nearly 1,000% from Monday’s open to Thursday’s high, fueled by news that Tom Lee was appointed Chairman of the Board.
The move was driven by speculative enthusiasm and crypto-sector momentum.
After such a parabolic run the stock is now extremely overextended, on watch for a short this week as the stock inevitably pulls back

UBER 0.00%↑ is consolidating just below all-time highs, showing constructive price action after a strong run. Last week we saw leading names like NVDA and HOOD make clean all-time high breakouts with strong follow-through, offering good trading opportunities.

QUBT 0.00%↑ is approaching a key technical level:

Price is nearing a new daily high above the June peak at $21.74.
Despite ongoing bearish sentiment around quantum stocks from a fundamental perspective, the technical trend remains bullish.
With elevated short interest, QUBT could be a candidate for a short squeeze, especially if it breaks out above this resistance level.

RGTI 0.00%↑ another quantum stock that looks on the verge of breaking out.

CRCL 0.00%↑ after last week's sharp sell-off which presented multiple trading opportunities, price action this week has been sideways, consolidating in a relatively tight range. The low-volatility pause can set up for the next directional move in the stock.

BBAI 0.00%↑ continued to rally this week on increasing volume. Remains a stock worth watching due to the high liquidity and large daily trading ranges which can offer intraday trading opportunities.

SYM 0.00%↑ could offer a short trade as the stock is getting extended after a large 3 day rally.

SEDG 0.00%↑ this week marked the first new daily higher high in quite some time, and notably, it occurred above the 200-day moving average. Worth monitoring to see if it holds and whether it signals a potential shift in the long term trend.

TAN 0.00%↑ the solar ETF broke a trendline spanning over 1.5 years and also trading above the 200-day moving average for the first time in a while. Remains a sector to watch to see if the long term downtrend has shifted.