February 20, 2025

Markets:

Stock futures moved lower Thursday, a day after the S&P 500 hit a fresh all-time high, while retail giant Walmart slid after issuing a disappointing outlook.

Wall Street is coming off a winning session, with the S&P 500 on Wednesday posting another record high. The Nasdaq Composite and the 30-stock Dow also finished in positive territory as investors shrugged off President Donald Trump’s warning of more tariffs.

Investors also digested newly released minutes from the Federal Reserve’s January meeting. The minutes showed that the central bank’s officials last month agreed that inflation needs to come down more before they cut interest rates again.

Elsewhere on the economic front, weekly jobless claims were slightly higher than expected at 219,000 for the week ending Feb. 15. Economists polled by Dow Jones forecast 215,000.

Portfolio:

As we stated to start the week and due to OPEX we expected chop and a potential dip which should be used as an opportunity to add March setups. Do not get caught up with the day-to-day price action and trying to chase that. The overall trend is firmly intact, and people still do not understand that the Q's and SPY are in breakout mode! It actually amazes me the fight to call tops. I don't understand how people continue to want to miss this move for an opportunity to call a top and they've been trying to call a top for the past several months.

But, we move forward and are almost in full attack mode. Think we have a monster opportunity for the next month after this OPEX and NVDA earnings next week. Should NVDA deliver – which we think it will- the AI theme, CAPEX, and Tech revolution will be fully in bully mode. Early prediction let's see how it plays out but we could have a pretty insane move into the next OPEX.

No changes needed in current holdings of S, TSLL, APPS, GRAB, and APLD. Be ready today but stay patient.