If you blinked, you missed it—because the market's marching higher on fumes, momentum, and a hundred billion bucks from Apple. But dig a little deeper, and the cracks are starting to show. Retail’s slipping, semis are faking strength, and the Fed’s still playing hopscotch with inflation targets.
Let’s get into it.
Key Takeaways
Major rotation happening—watch the leadership shift
- Energy and financials are trying to catch a bid while consumer defensives and retail get smoked.
- We’re seeing the market levitate off Magnificent Seven flows… but the Russell tells a different story, and it’s ugly.
Dollar down, gold up—pay attention
- The dollar broke under key levels again. That’s pushing gold, uranium, and base materials higher.
- If you’re not watching GDX, IAG, or PHYS here, you’re missing the real flight-to-safety trade.
Consumer defensive is a dumpster fire
- No insider buying, deteriorating balance sheets, and major dividend cuts across the space.
- The market doesn't want what we need—and that's a problem.
What I’m Watching
Today I’m stalking Intel for a reversion trade. The stock got hit hard after a presidential jab at the CEO, but I’m not interested in the drama—just the overreaction. I’ll be looking for a spot to sell a put spread if we get more weakness.
Gold continues to catch a strong bid thanks to central bank buying and currency pressure. GDX is extended, but any pullback to the 50-day? I’m there.
Also watching uranium (CCJ) and airlines (SKYW) for potential trades above their 20-day moving averages. On the short side? I’m still eyeing ARKK… but not yet. Let it get stretchier.
Stay sharp. Volume’s light, liquidity’s heavy, and the tape’s weird—but the opportunities are still there.
Until next time,
Garrett Baldwin
TheoTRADE