October 23, 2025

Markets:

Stock futures were little changed Thursday as investors a slew of digested quarterly earnings releases.

Tesla, which kicked off reports from the “Magnificent Seven” megacap tech group, saw shares dip 3% on the back of mixed third-quarter results. IBM
 shed about 6% after the tech company beat Wall Street estimates but reported in-line software revenue.

Investors continue to watch earnings releases from the biggest U.S. companies, which many believe could be make-or-break for the current bull market rally. More than three-quarters of S&P 500 companies reporting so far have exceeded earnings expectations, per FactSet.

Trade is also in focus. President Donald Trump said Wednesday evening that his upcoming meeting with Chinese President Xi Jinping is “scheduled,” easing some fears about U.S.-China relations that had put markets under pressure on Wednesday.

Portfolio:

Big headline hitting the wire right now; "TRUMP TO MAKE AN ANNOUNCEMENT AT 3PM IN WASHINGTON".  

Markets will be watching closely.  

The other monster headline we received overnight:  IONQ, RIGETTI, D-WAVE IN TALKS FOR GOVT. TAKING STAKES: WSJ

The best update we received from TSLA yesterday was :  Elon Musk says Tesla will unveil Optimus version 3 in Q1 2026. "It won't even seem like a robot. It'll seem like a human in a robot suit. It's seems so real that you'll need to poke it to believe it's an actual robot."

The AI / Tech revolution is just beginning.  Bumps at times but the overall transformation and runway is fully underway. Wedbush’s Dan Ives reiterated an Outperform rating and $600 price target on Tesla!

Enter the day holding setups in NVTS and TSLL

SPY held the retest yesterday.  They're shaking the tree before we proceed.  Days like the last few suck but needed once in a while to strengthen the next move.  Right now being safe and having patience.  We will not overtrade here, just want to positon for the next several weeks.  Historically, October 26th marks the Q4 low for the S&P 500, while October 27th does the same for the Nasdaq 100. The next few sessions may be choppy, but honestly, I wouldn’t be surprised to see QQQ testing all-time highs very soon.