Market Daily Recap | S&P 500、AAPL & TSM

For those who've been watching from the sidelines, many might be wondering if they've missed a great opportunity. Meanwhile, some are questioning whether the rally can continue.

After Nvidia, what other stocks can become the new driving force to keep the US stock market rising?

The market generally believes that easing inflation pressures and potential economic weakness in the US this year will prompt the Federal Reserve to cut interest rates.

Investors are eagerly awaiting this Thursday’s June CPI data, hoping it will strengthen the case for a rate cut this year.

The S&P 500's performance is roughly in line with our predictions from yesterday. It continues togo upin the short term, butthe body of bullish candles is getting smaller,indicating weaker upward momentum and the risk of a short-term pullback. Of course, this doesn't necessarily mean a pullback will happen right away. So, if you're looking to trade, make sure to choose stocks carefully to avoid systemic risks from the index that could lead to losses.

Reports suggest that Apple has increased its target for iPhone 16 series production to around 90 million units this year. This indicates Apple's growing confidence in its new devices, hinting that this year's new products might have a good market response.

Technically, the stock price broke out of its previous downtrend and began its current upward phase. While the price is still in an uptrend short-term, the reduced rate of increase suggests weakening momentum, so be cautious of a short-term pullback. If you're looking to go long, watch for strong support areas where there's been significant accumulation of shares. If the price pulls back to these levels and then starts rising again, it could be a great entry point for a swing trade.

This rally is fueled by several investment banks, including Morgan Stanley, raising their target prices. I believe TSMC's price hike for wafers reflects its strong pricing power, and I expect TSMC to raise its full-year sales forecast in its earnings report next week.

Technically, TSMC is also in an uptrend. Yesterday, it gapped up and broke through previous highs, setting a new record. My personal view is that there's not much risk before the earnings report due to the high market optimism, but if there's a continued surge in volume and the earnings report disappoints, be wary of institutional selling.