Gianni Di Poce bought the dip last Tuesday and got whipsawed out of it after Fed Day. Then he bought it back Thursday, because that is what the model said to do. Two sessions later the S&P and the Dow ripped to new all-time highs and the Nasdaq added over 950 points. He recorded his nightly video on why that low is going to hold, and hold for a long time. His read comes down to what is leading. Consumer discretionary took the top spot last week, tech came storming out of the gates this week, and that sequence is textbook early cycle behavior coming off a bottom. Here is what he covers in the video: → Why he is not getting excited about semiconductors even though they are outperforming again, and what he would rather watch them do for the next several months → The sector he is positioned

https://youtu.be/suLzz5EMhb0 Two competing Iran headlines hit the tape today. Neither one did a thing. Brandon Chapman recorded his nightly recap on why. The market opened squarely into positive gamma with a cushion running down to 740, and from there it ground higher all day without ever giving the bears a foothold. That structure is why every pullback got bought. Five minutes here, ten minutes there, and each one recovered, because buying weakness is exactly what the dealer is obligated to do when the market is positioned like that. Price pinned at 755, broke 756, retested it, then ran at 760 before a $2 billion gamma level stopped it cold at 758.65. Here is what he covers in the video: → The 757/759 call spread he flagged this morning, and where it closed → Why tomorrow’s cushion will be thinner, and the exact volume reading that tells him so → His

https://youtu.be/RHq-Z9PUTLU The bond market broke today. Interest rates are exploding higher. The TLT now sits near the lowest point it has ever traded. One thing can burn this marketplace, and the bond market is it. The S&P 500 closed right at 7511. That number has been the center point of every trade since May 4th. We tested 7350 this week and bounced. Traders immediately called it a bottom. Too much remains unresolved for me to agree. The NASDAQ ran from 27,200 to a high of 28,600. That is a 5% move off the low. It still could not reclaim 29,000. Some of the most ferocious moves you will ever see happen inside a down move. This one reeks of a bear market rally. Here is the part almost nobody caught. The advance decline line stayed negative during yesterday’s 130 point rally in the S&P 500. No fresh money is entering

https://youtu.be/EzOvkei3120 Don here… Blake Young pulled the fundamentals on the home builders today. Toll Brothers now needs 16 months to sell the inventory it used to clear in 13. Their net profit margin fell 15% in a single year. Costs are climbing faster than home prices. Yesterday set the table for it. The Fed held rates steady. The market treated that as bad news and sold off hard. Blake points to Warsh. He intends to fight inflation aggressively back toward 2%. That path runs through selling bonds or raising rates. The selling dropped the S&P 500 almost perfectly into Blake’s buyer zone. It gapped up from 727 and spent today trying to close higher. He is watching 738.50 into the close. A close below that monthly monkey bar puts 727 back in play, then 716 or lower. Housing is where the real opportunity sits. Inventory has climbed against average sales