March 4, 2026

Markets:

Stock futures rose on Wednesday as oil prices moved lower after a volatile previous session as investors eyed developments in the U.S.-Israeli war on Iran.

Treasury Secretary Scott Bessent told CNBC on Wednesday that the U.S. is going to make “a series of announcements” to support the flow of oil through the Persian Gulf. This comes after President Donald Trump said Tuesday that the U.S. will give insurance to tankers in the Gulf and have the U.S. Navy escort tankers through the Strait of Hormuz, if necessary.

The rally in oil prices that has taken place in the wake of the war in the Middle East lost steam Wednesday following Bessent’s comments. Brent crude oil futures dipped 0.7%, while West Texas Intermediate crude futures were lower by more than 1%. Both ended Tuesday’s trading off their session highs, up more than 4%.

Portfolio:

We head into today holding setups in ONDS, AXTI, TALK, FCX, and TGB.  Shame in losing CONL yesterday and seeing that move this morning.  But we move on.

We will be adding today — be ready. The queue is showing extreme force this morning, and we want to stay proactive.

The SPY continues to coil inside this five-month range. A breakout is coming, and when it hits, it should be explosive. But until then, we trade what’s in front of us.

Yesterday, SPY filled the open bull gap and bounced perfectly off 670 — textbook reaction. However, this marks the lowest levels we’ve seen since November, which keeps pressure on the market. If we cannot fill the bear gap by the end of the week, downside risk increases.

Key levels to watch remain 678 and 676 as support for potential bounces.

Crypto is moving nicely this morning, constructive price action there.

AVGO reports tonight. This could act as a major catalyst for chips and broader tech, so pay attention.

Be ready today.