Summer is finally here. I can smell it…

Those long, lazy days filled with backyard barbeques, baseball games, and the annual pilgrimage to the beach await. And they can’t come soon enough!

Following the market's springtime shenanigans, it’ll be a well-deserved and much-needed break for all.

As the saying goes, “Sell in May and go away.” Am I right?

Not quite…

The market is indeed entering its worst six-month period. But for the past 10 years, June has offered stock market bulls plenty of action. It all depends on where you choose to cast your net.

Today, I’ll share with you a seasonality stat that you might find surprising and reveal one stock that’s ready to party!

Let’s dive in…

June Is for the QQQs

Check out the Nasdaq 100’s June returns since 2016.

Returns for large-cap tech have averaged a positive 2.24% for the upcoming month. 

So much for selling in May!

To be clear, this doesn’t mean the Nasdaq will rip to new all-time highs.

I view seasonality like the weather — a potential headwind or tailwind, not a buy or sell signal.

Next month, the Southern California coast tends to be overcast and gray. Locals call it “June Gloom.” But of course, the sun occasionally peaks out from behind the clouds.

Similarly, the Nasdaq 100 tends to rally next month. I call it “Bullish.” However, big tech could sell off in June without a hitch.

Bottom line: Conditions are set for a rally. Here’s how you can take advantage if (and when) it comes.

This Tech Stock Is Ready to Pop

I’ll admit, I’m not a big fan of the following stock.

It has nothing to do with price. My main complaint lies with the CEO’s decisions to change the company name and, most egregiously, the ticker symbol.

No, I’m not referring to Meta and the Notorious Z-U-C-K.

I’m talking about Block (formerly known as Square) and Silicon Valley’s most infamous beard, Jack Dorsey. I don’t have a problem with Jack or his facial hair.

However, Block’s new ticker symbol, XYZ, irritates me.

First, its previous symbol, SQ, still appears on my watchlists in TradingView.

Second…XYZ? Seriously?

Did we just finish our ABCs?

And what does it have to do with Block? 

Luckily, we don’t trade companies or their ticker symbols. We trade price. Personal grievances aside, the XYZ price chart is carving out a tradeable low.

The downtrend that began with the February 20 breakdown has slowed to a screeching halt and is now turning the corner.

Notice the three-point bullish momentum divergence in the lower pane, highlighted in green. (This is when your momentum indicator prints a higher low as price continues to trend lower.)

The more divergent inflection points in momentum, the better, as each new higher high suggests diminishing downside pressure.

XYZ bears have lost conviction to the point that buyers are challenging a shelf of former highs. A break above the April highs could send short-selling stragglers running and Block shares soaring.

Similar quick hits are working in this rollercoaster ride of a market. Quantum names such as QBTS, QUBT, and IONQ are ripping. Meanwhile, former high flyers like HIMS, PLTR, and ONON are slipping.

It’s a buy-the-dip, sell-the-rip environment.

If technology enjoys a brief seasonal pop next month, as it historically does, Block might help you kick off the summertime festivities in style.