March 24, 2025

Markets:

Stock futures jumped early Monday on reports President Donald Trump was planning on holding back some of the tariffs initially planned for April 2, raising hopes the U.S. won’t plunge the globe into an all-out trade war.

Shares of Tesla, which have fallen nine straight weeks, were up 3.6% in premarket trading Monday. Meta shares added 3%, while Nvidia shares rose nearly 2%.

Investors remain jittery as Trump’s April 2 start date for reciprocal tariffs approaches, however. Trump has said the tariffs are aimed at any country that imposes duties on U.S. imports.

But the Wall Street Journal reported the tariffs are expected to be more narrow in scope and will likely exclude some industry-specific duties, citing an administration official. Trump will also exclude some nations from the tariffs, Bloomberg News reported. Both the WSJ and Bloomberg News reports noted that the situation remains fluid and the plans could change.

Trump seemingly lowered the temperature for investors on Friday after he told reporters that there could potentially be “flexibility” for his reciprocal tariff plan. That helped push major averages into the green for the session.

Portfolio:

This gap up is vicious right now and takes QQQ above the key 484 level, SPY above 570 and building.  Key names like META, TSLA, NVDA flipping to positive price action.  Right now, should this hold throughout the day, we are in a massive turn price action and once again this market can build to new highs.  Not saying this is what is in play as of today, but open up a chart and you can see the development.  550 on SOY was key and three times it defended and bounced strong. Now +20 from that level.  What do we see here? An Inverted head and shoulders to reverse the pattern?  Not certain for sure but you see it and could be MASSIVE!  Next move bulls want to see is 577 be taken on SPY.  Key line.  Would anyone be surprised to see a massive rip to the upside all week and then a bit of selling pressure to end the quarter before we move forward again.  Can definitely see that. Today will be pretty telling with this Bull Gap in place at the open now.

We enter the week holding setups in TSLL and METU.   We will be adding.  Be ready!  It's time for a monster period ahead.