It's Baseball Season... (Red on Risk)

Looks like another week of chop ahead of the CPI reading.

Action to Take: Markets are trying to bounce to start the week, but the technical setup remains tough. While futures point higher, we need to clear specific hurdles before turning the corner—the first we already cleared in the premarket at Friday’s 1:30 p.m. failed rally attempt, then $605.75 for SPY and $528 for QQQ.

We've seen a pattern—Monday selloffs, midweek recoveries, then a fade into Friday.

Something feels off. While markets wrestle with tariffs, earnings, and policy shifts, our momentum signals warn us. Selling pressure remains high, and tech sector weakness acts as a strong undercurrent for any attempts at a rally.

With Trump rolling out new metal tariffs, remember—cash is a position. And sometimes, it’s the safest one when momentum turns negative. There’s nothing wrong with sitting out for a few days. When momentum flips back positive, we’ll be the first to know.

While you wait, revisit our Hedge of Tomorrow report. With gold breaking out to new highs, it’s your guide to build…