# Joel Elconin – An Unsatisfied Bid Underneath A Very Mixed Market

Page: https://stenobird.com/podcast/the-ke-report-5642261/joel-elconin-an-unsatisfied-bid-underneath-a-very-mixed-market
Text version: https://stenobird.com/podcast/the-ke-report-5642261/joel-elconin-an-unsatisfied-bid-underneath-a-very-mixed-market.md
Podcast: [The KE Report](https://stenobird.com/podcast/the-ke-report-5642261)
Published: 2026-06-26T04:05:13+00:00
Episode link: https://kereport.podbean.com/e/joel-elconin-%e2%80%93-an-unsatisfied-bid-underneath-a-very-mixed-market/
Audio file: https://mcdn.podbean.com/mf/web/ja5d7qezst4z4gxv/2026-06-25_-_Joel_Elconin8tenk.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-ke-report-5642261/episodes/joel-elconin-an-unsatisfied-bid-underneath-a-very-mixed-market
Duration seconds: 932

## Resource

In this Daily Editorial on The KE Report, I chat with Joel Elconin, co-founder of the Pre-Market Prep Show and founder of the Stock Trader Network, to discuss a mixed week in US equities, where he highlights an “unsatisfied bid underneath the market.” On the positive side of the market: Micron Technology (MU) had an amazing day up over 15% after a solid earnings report and estimate beat, and this caused sympathetic buying in SanDisk (SNDK) up almost 22% on the day. It was a big day for hardware stocks. The financial stocks, consumer staples, mixed retail, utilities, biotech (XBI), Caterpillar (CAT) and Deere (DE) all have had constructive moves higher lately. Airline stocks and cruise stocks have been benefitting from the pullback in oil prices. On the negative side of the market: The MAG-7 megacap tech stock leadership has been rolling over lately, with Apple (AAPL), Nvidia (NVDA) , Meta (META), and Microsoft (MSFT) leading the charge down this week. The SpaceX (SPCX) IPO highlights excessive market speculation and after a very big launch, it has now crashed back down to Earth, with pricing very near now to where it initially came to market; creating a lot of new bagholders. Oil prices have collapsed since the MOU was signed between the US and Iran, but there was a slight lift today in oil and energy stocks on the news that projectiles were shot at a tanker by Iran in the Strait or Hormuz. We debate how the wider market breadth rotating out of the megacap tech stocks into more areas of the market could show a healthier market, but Joel points out with the MAG-7 having a disproportionately high weighting in the S&P and Nasdaq, and with many institutions so heavily weighted to concentrated positions, that it has him leaning more neutral to bearish coming into the su…

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## Transcript

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