April 27, 2026

Markets:

S&P 500 futures were relatively unchanged on Monday as stalled Iran peace talks and a fresh escalation in the Strait of Hormuz pushed oil prices higher, keeping geopolitical tensions front and center heading into a pivotal week.

President Donald Trump on Saturday scrapped plans to send U.S. special envoy Steve Witkoff and Jared Kushner to Pakistan for ceasefire talks related to Iran, noting the negotiations could happen by phone.

Iran’s Foreign Ministry spokesman Esmaeil Baqaei said no meeting between Tehran and Washington is currently planned.

Tensions escalated near the Strait of Hormuz after Iran’s Islamic Revolutionary Guard Corps boarded two container ships near the vital shipping lane, a key artery for global crude flows. West Texas Intermediate futures rose nearly 1% to above $95 a barrel, while international benchmark Brent oil futures also gained about 1% to top $106 per barrel.

However, an Axios report that said Iran has offered a new proposal to the U.S. for reopening the Strait of Hormuz and ending the war while suggesting that nuclear talks be deferred.

Attention will also turn to the Federal Reserve’s policy decision on Wednesday, which could mark Jerome Powell’s final meeting as chair before Kevin Warsh is expected to take over in May. The Department of Justice decided to drop its criminal probe into Powell on Friday, causing Sen. Thom Tillis to end his block of Warsh’s confirmation.

Portfolio:

Monster week ahead. The earnings bonanza is here.

MSFT, AMZN, AAPL, META, GOOG, QCOM, V, MA, CAT, BE,  SOFI, HOOD, WDC, SNDK, RDDT — the tape is wall-to-wall with names that move markets, all reporting in the next five sessions.

We enter the week holding setups in ONDS, TSLL, and MSFU.

The queue has gone nuclear over the last several sessions, and it only continues to build. We started preparing you for this back in mid-March when we flagged the monster lots being positioned for a much higher move. We laid out the tariff playbook, the timing, the turn. Here we are. Now we build into levels few understand.

I still love reading and hearing from the crowd trying to call the top. The pain trade is higher for far more people than they realize. Just wait until the chase phase kicks in.

A bit of context worth sharing. Several months ago, we wrote a premarket noting we had roughly 30 months left in this bull phase. One of the AI godfathers we follow a respected Wall Street fund manager recently called this the third inning. We're probably a bit further along, but the directional read is the same.

Here's the data point everyone misses: It took 3.5 years for this bull market to double. A tad faster than normal. But after every previous bull doubled, the average run afterward lasted another three years.  We are still in a secular bull market with plenty of time left. Do not fight this.

I genuinely don't understand the folks still fighting it. I can name several pros and analysts who have missed this entire rally. Do not miss the next few years. Could not be
more straightforward.

Now let's have a monster week and finish April strong. We sit at 12-1 on closed trades this month.

Let's build.