- Moving the market
Stocks opened strong and kept the positive momentum going most of the day, with traders shrugging off recent AI disruption fears.
The real spark came from AMD jumping 7% after Meta announced a multiyear deal to deploy up to 6 gigawatts of AMD GPUs for its AI data centers. Meta’s also taking a performance-based warrant for up to 160 million AMD shares.
That news gave the chip and software space a nice lift, especially after last week’s heavy selling.
The broader market stayed upbeat thanks to some encouraging macro data—home prices held steady (helping affordability), and consumer confidence rebounded.
Yesterday’s software meltdown took a breather, and a massive short squeeze (the biggest of the year) fueled the upside in small caps, which led the pack.
Bond yields stayed steady, rate-cut expectations eased off a bit, and the dollar ended only modestly higher.
Metals took a little breather—gold dipped to $5,100 but used it as a springboard to hold firm.
Bitcoin dumped overnight but found support at $63K and recovered some ground.
All eyes are now on Nvidia’s earnings report tomorrow—it could set the tone for the AI trade heading into the rest of the week.
2. Current domestic “Buy” Cycle (effective 5/20/2025); International “Buy” Cycle (effective 5/8/25)
Our domestic bullish cycle that began on November 21, 2023, concluded on April 3, 2025, following a market downturn triggered by President Trump’s tariff policy announcement.
This development caused significant declines across major indexes and broader market indices. However, markets subsequently rebounded, culminating in a new domestic “Buy” signal taking effect May 20, 2025.
Concurrently, our International Trend Tracking Index (TTI) experienced parallel volatility. On April 4, 2025, it breached critical thresholds, prompting a “Sell” recommendation. This position reversed as global markets recovered, with the International TTI regaining sufficient momentum to issue a new “Buy” signal effective May 8, 2025.
3. Trend Tracking Indexes (TTIs)
The bulls grabbed control right from the opening bell and never gave it up—steady buying all session long helped the major indexes stage a nice rebound from yesterday’s sell-off.
No big fireworks, just consistent upward pressure that carried us to a solid green close.
The metals took a little breather overall, but copper stood out with a strong showing, gaining almost 2% and keeping the commodity side respectable.
Our TTIs synced right up with the broader market—they shook off yesterday’s losses and posted decent recoveries, keeping the bullish trend looking healthy.
This is how we closed 02/24/2026:
Domestic TTI: +8.09% above its M/A (prior close +7.23%)—Buy signal effective 5/20/25.
International TTI: +11.90% above its M/A (prior close +11.44%)—Buy signal effective 5/8/25.
All linked charts above are courtesy of Bloomberg via ZeroHedge.
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