August 6, 2025

Markets:

Stock futures are climbing this morning as investors digest a fresh wave of earnings reports following another down day on Wall Street.

Tuesday marked the fifth loss in six sessions for the S&P 500 and the sixth in seven for the Dow. Tech stocks were the weak link, with the Nasdaq dropping nearly 0.7%. On the flip side, small caps showed relative strength as the Russell 2000 pushed 0.6% higher.

Overnight, Asia-Pacific markets traded mixed, reacting to soft economic data and new tariff rhetoric from President Trump, which added a layer of uncertainty to the global picture.

Portfolio:

We head into today’s session positioned in DPRO, GLW, and RYCEY.

SPY must hold 626.5, or we could revisit 619. Not a concern yet—just part of the process. The upside target remains 640+.
QQQ looks strong above 560, with a key support at 550. Consolidation here would be ideal before a push toward 576—and yes, we’re still eyeing 600+ on QQQ in the next couple of months.

We’re particularly watching how semis react post-AMD earnings. We remain confident in NVDA’s short-term potential to hit 200+, though one more dip wouldn’t surprise us before liftoff.

And don’t sleep on AAPL. It’s been lagging—but the upside flow is relentless. If AAPL finally breaks out, it could become a major engine for the broader market. The fact that we've seen this kind of market strength without Apple leading is incredible—it speaks volumes.

Be ready today and on high alert for new trades.