$Ps S&P 500 Mmtm(SPMO.US)

Context: US stocks turned higher on Thursday in choppy trade, with the S&P 500 falling early to a two-week low but then rebounding sharply as a global bond selloff reversed course after sending US Treasury yields to multi-decade highs. Stocks were under pressure in early trading as economic data kept pointing to a solid economy with persistent price pressures. The Labor Department said weekly initial jobless claims dipped to 197,000, below the 200,000 forecast of economists polled by Reuters. It was the latest in a string of reports this week that indicated the labor market was on solid footing, ahead of the government payrolls report on Friday.

My Trade: The SPMO in particular has been up around 28% this year, and I see little potential for any more significant gains for the year. My target is to accumulate and DCA when possible under $150.

Takeaway: The recent reallocation of holdings in SPMO saw the removal of Broadcom and Nvidia from top 10 holdings, with strong momentum over the past 6 months having Apple now being the 2nd largest holding behind Micron. @Captain's Treasure