The Nasdaq has been rising pretty sharply recently, but there’s one time point I think you should pay attention to. Historically, in many years, around the end of July the market would usually see a pullback. It doesn’t necessarily mean a big drop—many times it’s simply that money gets taken off the table early.

The reasons are also pretty straightforward: when prices have risen too much, profit-taking wants to leave; with earnings season coming, overly high expectations can easily lead to “good news being realized”; and on top of that, with options expiring, volatility may be amplified.

This rebound so far this year is stronger than in 2024 and 2025