March 13, 2026

Markets:

Futures tied to the Dow Jones Industrial Average rose 172 points, or 0.4%. S&P 500 futures gained 0.4% along with Nasdaq 100 futures.

Stocks are coming off a losing session as oil spiked Thursday after Iran’s new Supreme Leader Mojtaba Khamenei said that the Strait of Hormuz, a critical route, should remain shut as a “tool to pressure the enemy.”

Rising crude prices and growing inflation fears have also dampened investors’ expectations for Federal Reserve interest rate cuts this year. Traders are now awaiting the release of January’s personal consumption expenditures price index — the Fed’s preferred inflation gauge — due Friday morning.

The Dow Jones consensus calls for the headline PCE to have gained 0.3% on a month-to-month basis and 2.9% from 12 months earlier. The estimate for core PCE, which excludes energy and food prices, is anticipated to have gained 0.4% for the month and 3.1% from a year earlier.

Portfolio:

We head into the final trading session of what’s been a wild roller-coaster week, currently holding positions in SPSC, TALK, FSLY, and ONDS.  

Yesterday was another crazy session. Price action was extremely active around VWAP all morning, and then like clockwork it just shut off around noon. That’s been the pattern for several days now — heavy movement early, then things fade out midday.

The good news is that a lot of names are still coiled tightly. When this range finally breaks — and I can’t stress this enough — it could set up one of the best trading environments we’ve seen in years. The move that comes out of this compression should be powerful. The setup is there.

One technical note from yesterday was the action in SPY. I’ve been impressed with how well the QQQs have held up, but SPY now has our full attention. It lost the daily 9 EMA and opened a new bear gap. Most of the session it tried to hold 666.76 as support and push back above 670, but it couldn’t get it done and ultimately lost that level into the close.

If 664.45 breaks, that opens the door for a potential bull gap attack down in the 659.03–651.59 range.

The queue is really lighting up on both sides right now, so stay alert. Keep a close eye on AXTI, MSFT, CRWV, FSLR, CRCL, and CRWD. These names are showing the potential for powerful short-term moves, both up and down.

Just sharing what’s currently showing the most force on the board.

Be ready — especially heading into next week.