S&P Enters the Quarter-End Rebalance on a Strong Note

End-of-quarter has start to July has some great odds.

Our View

The Nasdaq gained 3.3% on Friday and closed out the week up over 6%. The S&P gained 3.1% on Friday, its largest one-day gain in percentage terms in more than two years, and gained 6.4% on the week.

Can the ES keep going up? I think there is a good probability the S&P moves higher into the end of the quarter and the first 2 or 3 sessions in July. …