May 21, 2024

Markets:

Stock futures are near flat Tuesday after the technology-heavy Nasdaq Composite closed at an all-time high.

Monday’s action follows a notable week on Wall Street amid renewed hopes about the state of inflation and monetary policy. The Dow ended Monday’s session below the closely watched 40,000 level, after closing above it for the first time last week.

Investors will monitor speeches from several Federal Reserve speakers including Governor Christopher Waller, Richmond Fed President Tom Barkin and Atlanta Fed President Raphael Bostic. Traders will be watching closely for any insights into the future path of interest rates.

Crypto prices rallied on Monday amid a late surge in optimism around the U.S. Securities and Exchange Commission decision on spot ether exchange-traded funds applications, due this week. The previous consensus was that the funds would likely not be approved.

Portfolio:

Great way to start the week and we march into this Tuesdays session excited for Fed speeches to come, FOMC, and of course Nividia's monster earning report.  This report as the potential to further fuel and ignite the AI rally.  How we respond will be important for the AI sector over the next few months.  AI and the entire tech sector has begun a huge bull cycle.  Still early!

We enter the new trading session holding set-ups in NVDL, IONQ, AI, PLTR, TSLL, and PATH.  Queue continues to ignite but staying patient here over the next two sessions with everything set to come to us.  Just keep in mind, the longer the base, the higher we go. Most of main stream have missed this move.  Chase has yet to begun.  We're still early of whats to come.