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Trading notes: A heavy sell-off overnight in the futures market has SPY quickly changing directions and now setting up for an open below the 50-day moving average and below the diamond top price pattern. Volatility is very much running hot as well, with the VIX looking at an open of over 19. The brunt of the

Trading notes: Semiconductor stocks looking to continue its sell-off from yesterday, with MU leading the way lower with almost -15% since yesterday's open. However, what is currently playing out are the ongoing and frequent rotations to and from semiconductors. Yesterday it was from MU, AMD, INTC, SNDK, and into traditional megacaps, namely AAPL, GOOGL, AMZN

Trading notes: Stocks again pushing higher following strong earnings out of ASML, and a cooler than expected PPI reading. The Nasdaq is attempting to lead the way again, with volatility looking at a break back into the 15's. Both software and semiconductors are showing strength in the pre-market, and both of those combined, should they hold

Trading notes: CPI number is out and it came in well below expectations, making its a very cool number relative to what the market was expecting. Initially the market shot modestly higher, but has since curbed some of those initial gains. With the number missing expectations, I am somewhat surprised there isn't a a better

Trading notes: Overnight futures dropped notably on the Nasdaq side, but S&P 500 suggests that it looks like another rotation involved, with this time being from the AI/Semiconductor trade back into the everything else crowd. Energy is rallying overnight on renewed warfare between Iran and the US, but all things considered, the market doesn't seem to

Trading notes: Strong follow through on QQQ yesterday essentially saved the Nasdaq from a break down and confirmed topping pattern by pushing the index back into the consolidation pattern that it has traded in since May. The big news maker of the day comes from the debut of SK Hynix, which will ultimately trade under the

Trading notes: The sell-off yesterday was quickly bought up on the Nasdaq, and with it capital rotated back into the semiconductor/AI trade only, with 9 of 11 sectors finishing lower. That same theme looks to continue today, with semiconductor stocks ripping to the upside (MU +6.7%, AMD +4%, INTC +4.5%, AVGO +3.7%, etc.). This is

Trading notes: Tensions are flaring back up in the Middle East with the US attacking Iran and Iran attacking vessels in the Strait of Hormuz. However, the market is barely pricing in the renewed escalations between the two countries. Much of that is likely due to the market already pricing in/front-running the tensions between the two

Trading notes: While yesterday was the rally into AI & Semiconductors, today we are seeing another rotation, in the pre-market, where capital is rotating from AI back into the everything else trade. You're still seeing a sneaky rotation back into the software stocks where they are attempting a 7th straight day of gains. Many of the

Trading notes: Coming back from an extended holiday weekend, there's a good chance the volume is light once again on the day. You saw the buy-the-dip, no matter what mindset on full display, Thursday when SPX rally off the lows to finish 0.01 points higher on the day, and in the closing minutes. Today  you are