Welcome back to our weekly newsletter where we provide an overview of the main US and UK indices, along with analyses of selected assets that are outperforming the market.
The markets have just been through a correction phase, and that can be unsettling to watch. But, instead of panicking when prices dip, I look for two things. Where price is holding firm at support, and which stocks are pushing back to the upside, while other stocks hesitate.
We’ll go through the indices first, then I’ll show you standout stocks, including the one that’s quietly outperforming the rest of the market.
Let’s get into this week’s newsletter!
US & UK INDICES OVERVIEW
S&P 500
The S&P 500 is having a steady year, up 8.56% so far in 2026. That’s a healthy return with six months still to go, and it sets the tone for an index that remains in a long-term uptrend.
June itself has been quieter. The monthly candle is slightly down from last month by 1.96%, but the price has already recovered 2.77% from June’s low. That’s a clear sign buyers stepped in when the index pulled back.
In the week, the S&P closed up 0.65%, holding its ground rather than rolling over.
The standout moment came on June 2nd, when the index printed a fresh all-time high at $7,620. That level is now the resistance I’m watching closely. It also gives us a very clean next price target. A break and close above $7,620 would confirm the bull trend is continuing.
For now, the weekly candle is one of indecision, which simply means buyers and sellers are roughly balanced and the market is catching its breath.
That indecision typically resolves in the direction of the bigger trend, and with the long-term bias still firmly bullish, I’m leaning towards a resumption of the upward move once $7,620 is cleared.
Dow Jones
The Dow Jones 30 has gained 6.54% year to date. Although it’s seen more moderate growth compared to other US indices this year, it remains in a solid uptrend.
June has been close to flat, edging up just 0.33%, and the monthly candle is indecisive. That tells you neither buyers nor sellers have taken firm control this month, which is common after a market pulls back and tries to stabilise.
The level to watch here is the $50,000 round number. Big round numbers like this act as strong psychological levels, and this month price bounced cleanly from it. That bounce is exactly the behaviour you want to see at support, because it shows buyers are pushing the stock up from that level.
Looking ahead, the long-term trend remains bullish. What I’d like to see to confirm that strength is a bullish monthly close by the end of June. If we get that, with price holding above $50,000, it reinforces the case that the Dow’s longer-term move higher is still intact.
Nasdaq 100
The Nasdaq 100 is the standout index of the year, up an impressive 17.37% year to date. When tech leads, it often leads hard, and that’s been the story for this index in 2026.
June has been a little softer, down 2.3% from last month, but price has bounced back strongly and now sits 4.95% above the low that was formed this month.
The Nasdaq 100 also created a new all-time high in June at $30,762, which shows the underlying strength here. In terms of resistance, the first level to watch is the $30,000 round number, followed by that all-time high at $30,762. Those two levels give us a clear roadmap if price manages to break them.
Clearing both would open the door for the next leg higher. With the long-term trend remaining firmly bullish, my projection is for continued upside once those levels give way.
FTSE 100:
The FTSE 100 is up 5.44% year to date. It’s the quieter performer of the four as the US markets tend to form stronger trends..
June has been modest, up just 0.6% on the month. The shorter timeframes, though, are more telling. This past week, the index closed up 1%, and on Friday specifically, it closed strongly bullish, gaining 1.63%. That’s a confident finish to the week and a sign of buyers showing up.
For levels, the all-time high sits at 10,934, set on February 27th, 2026, and that’s the resistance I’m watching. On the downside, support comes in at the March 23rd low of 9,670. Between those two points is the range that’s been defining this index for a while now.
And that’s the key thing here, patience. The FTSE has been consolidating for 71 trading days, which is longer than the 55-day benchmark I usually look for before expecting a decisive move.
Because this consolidation has lasted so long, I want proper confirmation before jumping in early after an initial breakout.
PERFORMANCE REVIEW
Marriott International (MAR)
Marriott International has been a genuinely strong performer this year, up 29.75% year to date.
June has added another 7.17% to the tally, building on a run of consistent record highs that began back in April.
This past week, the stock gained 2.56%, which was enough to push price above the key $400 level. And on Friday, Marriott printed yet another new record high, closing up 1.42%.
When a stock is making fresh highs into the end of the week, it tells you demand is still very much in control and that momentum should hopefully flow into next week.
The structure here is worth understanding, because it explains the strength. Marriott broke major resistance at $307 back on December 15th, 2025, which opened up plenty of room to run.
It then found solid support in May 2026 around $350, holding firm before pushing higher again. Now it has cleared the $400 round number, turning that psychological level into a level of support if the stock pulls back again.
My projection going forward is positive. A strong, trending move is developing, and the long-term momentum reading remains healthy.
OUTPERFORMING ASSET FOR THE WATCHLIST
Principal Financial Group (PFG)
Principal Financial Group is up 25.97% year to date, putting it right alongside Marriott as one of the stronger names on our list.
The stock is up 7.23% in June so far. Its weekly performance is particularly strong, closing up 5.6% for the week. On Friday, the stock finished up 1.3%, showing strength across every timeframe.
The technical picture is clean and easy to read. Principal cleared major resistance at $96, the monthly level I track, back in April, and broke the $100 round number in that same month.
Those were two meaningful hurdles, and the stock pushed through both. If we get a pullback from here, I’d expect the $100 level to act as support.I’m now looking for the price to continue rising after that breakout.
While most of the market has been correcting, Principal Financial Group stayed strong and linear, refusing to follow the broader pullback.
Its long-term momentum reading has stayed firmly bullish. In my experience, when a stock holds this kind of strength during a market-wide correction, it’s often signalling real underlying demand.
That’s exactly why this is the outperforming asset for the watch list. The stocks that stay strong while everything else pulls back are frequently the ones that lead when buyers return in force.
Looking Ahead
The percentage of U.S. stocks trading above their 200-day moving average held steady at 55% this week, which is normal as the market recovers from its recent downturn. The market appears to be gaining momentum, and we are now watching for indices to break out and resume their upward trend.
Keep it simple. Keep it Sublime.
The ST Team
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