Our June 2024 stock and ETF watchlist with entry points, sector analysis, and market outlook.
The Monthly Watchlist: stocks and ETFs we're actively researching, with the levels we're watching as of June 1, 2024. Inclusion isn't a recommendation to buy, and this isn't personalized investment advice — your investment decisions remain your own.
Market Overview
Welcome back to The Wealth Catchers' watchlist. The month of May has been the best so far this year for investors. We saw all the indices, excluding the Russell 2000, hit new all-time highs. Some pivotal names that carried the market in May to these new highs were Nvidia (up 27.71% MTD) and Apple (up 11.15% MTD.) Over the past few months, the belief has been that Nvidia is what is carrying the market, and after a month like May, it's hard to argue against that. There is a renewed concern that there isn't enough breadth in the market as we witness this push to the upside. Nvidia had another great earnings report and announced a 10-for-1 stock split, which played a big part in this bullish run
Monthly Performance
At the close of the month, here are how the indices performed:Dow Jones (2.30%)S&P 500 (4.80%)NASDAQ (6.88%)Russell 2000 (4.90%)At the close of the month, the VIX was at 12.92. At the close of the month, the "Fear and Greed" index was at 48, indicating neutrality in the market.
Closing Note
I appreciate you checking in, and here's your friendly reminder:
“The time to buy is when there's blood in the streets.”
Keep on buying assets; there's always a bull or bear market somewhere. Keep your money working.
Index Performance
| Index | Performance |
|---|---|
| Dow Jones (May 2024) | +2.30% |
| S&P 500 (May 2024) | +4.80% |
| NASDAQ (May 2024) | +6.88% |
| Russell 2000 (May 2024) | +4.90% |
| VIX | 12.92 |
Top Sectors
- Information Technology+9.95%
- Utilities+8.46%
- Communication Services+6.57%
Bottom Sectors
- Energy-0.97%
- Consumer Discretionary+0.19%
- Industrials+1.44%
Stock Entry Points
| Ticker | Daily Entry | Weekly Entry | Notes |
|---|---|---|---|
| NKE | $89–$102 | $89–$124 | |
| ABNB | $141–$154 | $126–$135 | |
| MSFT | $370–$412 | $266–$320 | |
| AAPL | $180–$182 | $138–$169 | |
| GOOGL | $139–$153 | $108–$123 | |
| MCD | $255–$281 | $243–$275 | |
| WMT | $56–$60 | $48–$52 | |
| TSLA | $162–$222 | $190–$230 | |
| SBUX | $75–$89 | $72–$98 | |
| V | $256–$277 | $217–$236 | |
| PG | $154–$160 | $141–$150 | |
| WM | $181–$203 | $146–$172 | |
| IIPR | $88–$99 | $90–$139 | |
| SHOP | $57–$75 | $55–$82 | |
| ADBE | $430–$548 | $445–$481 | |
| AMZN | $152–$175 | $131–$145 | |
| CRWD | $234–$314 | $170–$196 | |
| NVDA | $596–$818 | $250–$409 | |
| COST | $625–$734 | $444–$560 | |
| JPM | $165–$188 | $138–$148 | |
| NEE | $62–$65 | $72–$75 | |
| LLY | $618–$742 | $311–$492 | |
| TMO | $534–$569 | $489–$543 | |
| ADP | $240–$246 | $204–$236 | |
| SHW | $287–$318 | $248–$265 | |
| META | $371–$466 | $263–$280 | |
| RTX | $88–$96 | $86–$93 |
ETF Entry Points
Key Takeaways
- May 2024: S&P 500 set new ATH at 5,341; NVDA announced 10-for-1 split.
- NKE and SBUX both gapped down — value setups forming for patient investors.
- Market breadth concern: excessive NVDA concentration driving index performance.
- 10% correction targets: Dow 36,069, S&P 4,806, NASDAQ 15,328.
Timothy Monecla is the founder of The Wealth Catchers and a long-term investor focused on U.S. equity markets and generational wealth building. He created this platform to give everyday people the investing foundation they were never taught — through clear, data-backed education and no-hype guidance.
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