The Daily Breakdown looks at markets on the last day of Q2, before sizing up the charts of Monster Beverage. Can it find support?
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Monday’s TLDR
- It’s a short trading week
- But we still get the jobs report
- Monster Beverage pulls back
What’s Happening?
Welcome to the last day of the second quarter — and what a quarter it has been. We began it with US stocks teetering into bear-market territory and are ending it with the Nasdaq and S&P 500 coming off a so-called “perfect week” (where stocks close higher in all five days) and notched new record highs.
As we come into this week, it will be a short one due to Independence Day.
Markets operate as normal Monday, Tuesday, and Wednesday. Then on Thursday, they will close early at 1 p.m. ET, and on Friday, they’ll be closed completely. So investors should do their best to enjoy their long weekend!
As for things to watch, one thing in particular jumps out: Jobs.
We’ll get the JOLTS (Job Openings) data on Tuesday at 10 a.m. ET. Then on Thursday at 8:30 a.m. ET, we’ll get the monthly jobs report, which will tell investors how many jobs were added or lost last month and provide the latest unemployment rate.
Thursday’s jobs report is the biggest labor report and one of the most important economic reports of the month. So it’s sure to be key this week.
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The Setup — Monster Beverage
Monster Beverage shares have been on a tear this year, recently rallying to new highs. However, it has now pulled back in four straight weeks, dipping down into the low $60s.
Here, the stock is trying to find support from its rising 10-week moving average, as well as a key support/resistance area. The $60 to $62 area had been resistance in 2023 and 2024, but a breakout in 2025 has bulls looking at this area as potential support.
If support holds, bulls will likely look for a rebound back to MNST’s prior highs near $64, then potentially new highs above that. However, if support breaks, it could usher in a larger decline as bearish momentum accelerates.
Options
Buying calls or call spreads may be one way to take advantage of a pullback in MNST. For those that aren’t feeling so bullish or who are looking for a hedge, puts or put spreads could be one way to take advantage of a deeper pullback in the MNST.
For those looking to learn more about options, consider visiting the eToro Academy.
What Wall Street Is Watching
Shares of SoFi are in focus this morning, rallying on news that the company will reintroduce crypto trading for its customers. The stock is already riding some solid momentum, rallying all five days last week and gaining 13% in the process. Check out the charts for SOFI.
Nike stock had one of its best sessions in quite some time, gaining over 15% on the day. Friday’s rally came after better-than-expected earnings and revenue results and after management told an encouraging plan for its turnaround efforts. Dig in deeper to Nike’s fundamentals.
Disclaimer:
Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.