Distribution days adding up!

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6/10/2026 Daily Recap: Distribution days add up.
As we near the SpaceX IPO we are still being met with former leadership coming under pressure.
Today we saw $BE lose the 50sma and memory names start to tag resistance and fade off.
$MAGS closed under the 200sma. Want to give that group the benefit of doubt and see if it'll hold there but ultimately $META $MSFT $TSLA under the 200sma and $NVDA $AMZN $GOOGL now under the 50sma. Hard to go higher without those names.
On a positive note healthcare, biotech and drug manufactures and consumer stapes are acting amazing! YAY!! (hopefully you know my sarcasm). $JNJ $UNH $MOH $XLP $MO $PM
$ORCL reported earnings now sitting down about 10%. That certainly won't held software related names tomorrow either. Good to note they plan on raising another 40 billion!
The market is being asked to absorb an incredible amount of new supply right now. Ideally, that keeps things choppy for several more weeks while leading names digest gains and build fresh bases.
Department stores and food stocks came onto my radar today. $BROS $CAKE $CAVA $TJX $ROST. Not a group I think I will be trading but a sign of where money is going that isn't a semiconductor.
I know patience can be a tough ask, but unless you plan on shortening your timeframe, patience is a must.