February 27, 2024

Markets:

Stock futures were flat Tuesday as the market rally took another breather, with investors looking ahead to key data slated for release later this week.

Futures tied to the S&P 500 nudged 0.1% higher, while Dow Jones Industrial Average futures slipped 4 points, or 0.01%. Nasdaq 100 futures added 0.2%.

Those moves follow a losing day on Wall Street that pulled the Dow and S&P 500 off record highs seen last week. The Dow and S&P 500 slipped 0.16% and 0.38%, respectively, while the technology-heavy Nasdaq Composite inched lower by 0.13%.

Data from the U.S. Department of Commerce released on Tuesday showed that orders for long-lasting goods declined more than expected in January, with the leading factor being a large drop in demand for transportation. Investors are also watching for more economic data on housing and consumer confidence later Tuesday morning.

Portfolio:

Great start to the week yesterday booking a monster in SOUN for over 20%. We have so many opportunities close to triggering. Queue is just absolutely igniting, and the price activity is on the verge of absolute breakout, but a few obstacles do remain over the next week. Watching this closely but we will be looking to add set-ups to continue to position ourselves for the coming month. I will continue to state this; the team is in firm belief we are in the early stages. As hated as this rally is, and we know we've been stating this since August of 2023, but early stages! Next level is 5200 on the S&P. No changes needed on current setups of NU, PATH, TSLL, and PLTR. Be ready today!