With another month and another quarter in the books, there seemingly isn't anything to complain about concerning the performance of the major mega-cap stock indices. But if you look under the surface, that's a more-complicated story. So far, Information Technology has put the major indices on its back and charged upward. Can that last? The majority of market studies based on the gains suggest it can. The S&P 500 rose 3.5% in June, 3.9% for Q2, and 14.5% in the year to date. The Nasdaq saw a monthly gain of 6%, a Q2 pop of 8.3%, and a YTD increase of 18%. The Nasdaq 100 (QQQ) rose 6.5% in June, 8% in Q2, and 17% YTD. It's been a mixed bag for the S&P MidCap 400 (MDY), falling 1.7% in June and losing 3.5% in Q2, but still having gained 6% so far in 2024. Meanwhile, the poor small-caps just can't catch a consistent bid, with the Russell 2000 (IWM) off 1% in June, down 3.3% in Q2, and up a relatively sorry 1.6% so far in 2024. In June, we saw a very concentrated market, as Information Technology (XLK) popped 7.8%, Discretionary (XLY) added almost 4%, Communication Services (XLC) was up 3%, Real Estate (XLRE) rose 2%, and Healthcare was higher by 1.8%. The other six sectors all fell for the month, with Utilities (XLU) getting whacked by 5.5%. IT leadership was from semiconductors and computer hardware. In the near term, the S&P 500 has seen a few bearish reversals above 5,500 and has hit a cluster of potential Fibonacci extension targets. The rally from May 1 until May 23 on the index using intraday lows and highs was 328 points, while the advance from May 31 until June 28 was 332 points. Indeed, advances and declines are often symmetrical -- as is the case now. (Mark Arbeter, CMT)

Uber Technologies, founded in San Francisco in 2009, operates global networks for ride-sharing, carpooling, food delivery, and other services. The company's smartphone app enables consumers to contact drivers, arrange a meeting point, and get to their destination in a cash-free transaction. Uber has operations in more than 700 cities on six continents, resulting in over 18 million trips daily. The company completed its IPO on May 10, 2019 at $45 per share.

Stocks are fighting back from a red open this morning and are currently clawing their way toward green, with the Nasdaq up 0.27%, the S&P 500 up 0.05% and the DJIA and Russell 2000 essentially flat line. Semiconductor stocks continue to feel some pressure after running hot for weeks. Elsewhere, assorted economic news seems to support a scenario whereby inflation is indeed slowing.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.