June 18, 2026

Markets:

U.S. stock futures rose on Thursday, with traders looking to recover after the Federal Reserve indicated the possibility of a rate hike this year — sparking a sell-off in equities during the previous session.

S&P 500 futures and Nasdaq 100 futures climbed 0.8% and 1.5%, respectively. Futures tied to the Dow Jones Industrial Average rose by 195 points, or 0.4%.

Intel led chip stocks higher, rising 9% after President Donald Trump said the company will partner with Apple on designing chips in the U.S. Fellow semiconductor names such as Nvidia and Micron Technology were also higher by more than 1% and more than 4%, respectively. The iShares Semiconductor ETF (SOXX) jumped more than 4%.

Asia-Pacific markets closed mostly higher, with South Korea’s Kospi and Japan’s Nikkei 225 jumping to fresh records, rising 2.3% and 1.7%, respectively. Hong Kong’s Hang Seng index fell 1.6%, while mainland China’s CSI 300 added 0.21%. Australia’s S&P/ASX 200 slid 0.62%. In Europe, the Stoxx 600 fell 0.4%.

Wall Street sold off Wednesday after the Federal Reserve’s first meeting with Kevin Warsh as chairman raised worries about monetary policy going forward.

Policymakers’ “dot plot” revealed that several Fed officials now see interest rates increasing in 2026. The median estimate for the year-end interest rate now stands at 3.8%, up from 3.4% in prior projections from March, suggesting that at least one rate hike could be in the picture in 2026. Complicating the forecast was Warsh’s decision to abstain from submitting a rate forecast.

Portfolio:

Final trading day of the week!

What a rollercoaster it has been, exactly the type of volatility we anticipated and prepared for. The good news is we have navigated through the noise, stayed patient, and next week is where the summer trade truly starts to take shape.

The portfolio is looking strong this morning as we hold DRAM and TSLL.

Looking back at yesterday’s action, I believe the market simply needed to complete the Nasdaq and SPY gap fills before setting up for the next leg higher. Nothing Fed Chair Warsh said was overly hawkish, but the market is starting to price in the possibility of a rate increase later this year, potentially in September.

Once the 723 gap was filled, buyers stepped back in and the momentum shifted quickly.

Key Levels Today:

Resistance:
735 PDH
738
746 next level

Support:
729 trendline reclaim
730 gap fill area
721 PDL

Simple. Do not overthink this.

The setup is there, the opportunity is building, and we are positioned for what comes next.

Simple.  Do not overthink.  We are going to crush the period ahead!