February 2, 2026

Markets

Stock futures are lower to start the new month, pressured by weakness in Bitcoin and Nvidia.

Bitcoin fell below $80,000 for the first time since April as risk was taken off the table following Friday’s sharp selloff in gold and silver. Silver — which had more than doubled over the past year — plunged roughly 30% on Friday, marking its worst one-day drop since 1980. Gold also declined about 9%.

That said, both metals and crypto have since reversed sharply off their lows, helping stabilize equity futures and ease some of the risk-off pressure. Bitcoin is now back above $77,000, while spot gold and silver are down just over 1%. Notably, gold and silver futures are trading higher, signaling strong dip-buying interest.

Focus is also on Nvidia, following a Wall Street Journal report suggesting its planned $100B investment in OpenAI has stalled amid internal concerns. NVDA is down more than 1% premarket.

Earnings remain a major catalyst this week, with over 100 S&P 500 companies reporting, including Amazon and Alphabet. While earnings season has been solid overall, we’ve seen notable post-earnings volatility, including Microsoft.

Portfolio

January started strong, but the Thursday/Friday sessions were a humbling reminder of how quickly conditions can shift. We still closed the month positive, though it easily could have been much larger.

We enter the new month positioned in TSLL.  The focus now is on cycling through these setups, managing levels closely, and rotating into new opportunities as they develop.

Over the last hour, gold and silver staged massive intraday reversals, erasing the majority of their earlier losses. Gold is back above $4,700/oz, and silver has reclaimed $87/oz — truly incredible price action and a clear signal of underlying demand.

On the broader market, if QQQ can reclaim 618–620 today, it would be a very bullish signal for recovery. We’re watching closely for buyers to step in.

And finally monster earnings this week, kicked off by PLTR reporting tonight.