November 7, 2023

Markets:

Stock futures were lower on early Tuesday as a recent rally on Wall Street looked poised for a pause.

Stocks eked out a gain Monday, with the tech-heavy Nasdaq Composite earning its seventh-straight positive session for the first time since January. Both the S&P 500
and the 30-stock Dow were higher for the sixth-straight session, an occurrence not seen since June and July, respectively.

Wall Street is assessing whether the rally from last week holds water. All three indices wrapped their best week in 2023 last Friday. The November uptick is in direct contrast to a weak October in which the S&P 500 slipped into correction territory. Investors grew optimistic after the Federal Reserve left interest rates unchanged following their meeting last week, which also saw Treasury yields slide and stocks climb.

China reported a worse-than-expected drop in exports in October, while imports surprisingly rose compared to a year ago.

Portfolio:

We enter the new trading session holding set-ups in DKNG, AI, and GEO. We will be looking to possibly book a profit or two today while also adding new opportunities. Futures do not even begin to tell the story of what is developing the cycle that's set to ignite once again. Pay attention to earnings released from DDOG, MDB, SNOW, and others over the past few trading sessions. Sectors are set to ignite and carry names that have been beaten down. Technically, early stages of a potential massive move. Cannot state enough the excitement we have for the coming months and even the year with the election cycle in progress and Fed policy to shift. Be ready today and we continue to position ourselves to end 2023 in a monster way!