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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

Trading notes: Employment number is out and it is a huge miss, and last month's huge beat were revised significantly lower as well. As a result, the market has a bad news is good news view of the employment miss as it lessens the likelihood of aggressive rate hikes in the months ahead. The odds for

Trading notes: Following a two-day bounce in equities, the market is taking a small pause heading into the open, though I do expect there will be another attempt to quickly buy up this slight bit of weakness. Mega caps are a mixed picture following META announcing a cloud business to sell excess AI compute. It has

Trading notes: Stocks surged yesterday on little-to-no news with heavy bounces across the mega cap stocks, and massive rallies off the initial lows in stocks like INTC and MU. Today marks the end of quarter, which can often times lead to large moves in the broader market, and then on Thursday you have the employment number,

Trading notes: It is another shortened trading week with Independence Day weekend giving us an extra day off on Friday (July 3rd). You also have the end of quarter tomorrow, which can often times spark some extra window-dressing ahead of Q2 earnings. Last week concluded its second heavy sell-off in the last four weeks. To