November 10, 2025

Markets:

Stock futures rose on Monday after Senate lawmakers took a critical step towards a potential deal to end the historic U.S. government shutdown.

Nvidia, Broadcom and other artificial intelligence bull market leaders led the gains in premarket trading as a possible end to the shutdown put investors in a risk-taking mood again. Those stocks led the broader market lower last week as those on Wall Street grew worrisome about elevated valuations in the AI trade.

Investors continue to monitor lawmakers’ negotiations to pass a federal funding bill that would end a shutdown.

A procedural measure that allows other votes on the agreement to be held on Monday was approved by a minimum of 60 yes votes, after eight senators in the Democratic caucus broke with party leadership to support the deal.

The deal being would reopen the government into January and reverse some of the recent mass federal layoffs. It also includes future protections for government workers. The agreement does not include an extension of ACA credits, a key sticking point for most Democrats, but it would call for a vote on the subsidies in December.

A final vote in the Senate on the funding bill will need to be held, followed by passage by the House.

Portfolio:

We hope last week’s insights helped you stay calm and confident. The market narrative has flipped once again, and it’s hard to see what the bears can throw at it next in the short term.

To be clear — we’re not permanent bulls. We simply follow the dominant trend until it breaks. And right now, the tech-led revolution still has plenty of runway left.

Always remember: major market moves happen when conditions get extreme — either overbought or oversold. Nothing big happens in between.

Our extreme buy signals last week were once again spot-on, even as the same voices calling tops for over a year continued to miss the move. One day they’ll be right — but they’ll have missed the entire ride up and will be forced to chase.

From a technical view, Friday’s hammer candles across the major indexes were clear signs of renewed strength. Both SPY and QQQ confirmed small bear gaps that may serve as near-term resistance at Fridays close, but if these hammers follow through that were created Friday afternoon — and they are right now — we’re heading right back to all-time highs.  This is almost undeniable from a technical standpoint.  Bears will hate this.  The disbelief will be added fuel.  It'll force others to begin to chase.  And this is how new highs are created.  The amount of money still on the sidelines is noteworthy.  Once it begins to enter the market – we won't even get into the 2k dividend payment President Trump announced over the weekend – the market is really going to run.  There a new layers to this that will come into play that will create an extraordinary chase.  

We enter the week nearly at full attack mode. We’ll let the early session confirm direction, but our positions — RDW, METU, A, and WFC — are showing excellent premarket strength.  Queue is igniting with force.  Be ready!