June 2, 2026

Markets:

Futures are under pressure this morning as traders digest record highs across the major indexes while keeping a close eye on the latest developments involving Iran, as well as continued movement among the large-cap technology names.

Alphabet is lower in premarket trading after announcing plans to raise additional capital to accelerate its AI infrastructure expansion. Despite the pullback, the AI trade continues to be the dominant theme driving markets, with investors aggressively positioning for what many believe is still the early innings of this cycle.

The major averages closed at fresh all-time highs yesterday, led once again by Nvidia and the semiconductor complex. Momentum remains firmly behind AI-related names, helping fuel one of the strongest stretches for growth stocks we've seen in years.

Oil prices moved higher after reports surfaced that Iran is suspending indirect communications with the United States and could move toward fully restricting traffic through the Strait of Hormuz. Markets continue to monitor the situation closely as geopolitical tensions remain elevated.

Portfolio:

What a way to kick off the new month.

ORCU booking for over 20% was awesome and needed!

The opportunity unfolding in front of us remains extraordinary. Since March, we've been highlighting the unusual institutional positioning, the aggressive call buying, and the massive capital flowing into AI-related themes. The evidence continues to build that this cycle may have a lot more room to run over the next 18 to 24 months.

Could we see some volatility? Absolutely.

Nothing moves straight up forever, and after the recent run, some digestion would be completely normal. But the larger trend remains intact, and our focus continues to be on identifying where institutional money is flowing and positioning alongside it.  Summer of all summers is building!

We enter today's session holding setups in QTWO and TE.  Trying to stay light in positions for a few days as we expect some volatility.

Nvidia is once again leading the Magnificent Seven higher this morning.

Software stocks are seeing some profit-taking after yesterday's monster move, which is not surprising. Rotation is healthy and expected after such strong gains. Meanwhile, AI infrastructure and optics names continue to show leadership in premarket trading.

The market's next major catalyst arrives at 10:00 AM ET with the JOLTS Job Openings report. Economists are expecting openings to decline slightly to 7.815 million from 7.866 million previously.

Be ready today, but remain patient.

The setup feels like one where headlines, economic data, and sector rotation could create sharp swings in both directions throughout the session. Expect volatility today possibly and its ok!