Mike Valletutti 🎯

Did you enjoy taking profits on that Scale Trade at the High this week after buying it at the Low last week? $SPX $ES That’s what has been happening for the past 5 months. Quite a record! It’s all delivered via email - Trade Alert! @MMtradeSPX

A great Norm Macdonald bit about Tiger Woods’ adultery: “From a mathematical point of view, Tiger is the most faithful man who ever lived.”

Vice President Vance at the first meeting of the Task Force on Eliminating Fraud: “This is not just theft of the American people's money. This is also theft of critical services that the American people rely on.”🔥

Because everyone responsible for managing Fraud (and their lobbyists) have also benefited from unlimited Govt money printing, they just take it via Waste & Abuse. We have no idea how much Fed debt has been burned, but it’s way bigger than you can imagine.

June has built a ton of levels. Lots of scalping opportunities in Q2. $ES

*S&P-500 AND NASDAQ-100 ERASE 7 MONTHS OF GAINS IN 3 WEEKS

BREAKING: US oil prices surge above $100/barrel after Iran says Israel has struck Iranian power plants.

BREAKING: The S&P 500 has now erased -$4.5 trillion in market cap since the Iran War began on February 28th.

Why can't they trade the war on those prediction markets instead of $SPX?

roll hedge if you take it

6430-6440

DTL has a down channel counterpart that’s around 6440 $ES

S&P 500 $6,470 S&P 500 $6,470 August 2025 March 2026

$ES 6500

The Tech sector's forward 12m P/E is now definitively thru its Liberation Day low and at the lowest since January 2023 ... it has gone from 31.7 to 20.2 in just five months

Do they send AI chips through?

How many degrees apart is St of Hormuz and QQQ?

Oil is spiking, rates are rising and markets are falling…again. After all, it’s Thursday and we know that Trump prefers to take aggressive military action over the weekend. As bullish as we remain on the economy and as powerful as this structural bull market will remain (more on this next), I’ve yet to speak to a single person this week that’s in favor of the direction this is going. Yes, we get the fact that Iran has been a threat to humanity over the last several decades…led by religious fanatics...and that the world would be a better place without the threat they represent, but what’s not been well-explained is “why now”, “what’s next" and “are we actually going to have boots on the ground.” Because boots on the ground is how Trump loses the country. It’s how he loses me.  As Senator John Kennedy from Louisiana said today; “I think we've accomplished our objectives in Iran. We’ve destroyed the infrastructure of the revolutionary guard (IRGC)…that’s why we went in…and as far as I'm concerned it’s time to get out.”  I didn’t vote for another war, with 100’s/1000’s of military lives lost. But Iran clearly isn’t giving up…we’ve seen no hard evidence they are anywhere near a peace deal…and day by day, mission creep picks up speed. Escalate to de-escalate is almost certainly what’s taking place here, but the fog of war demands that we have confidence and trust in Trump and our military’s ability to pull this off (whatever “this” is). And, because we’re operating in the blind, maintaining that trust gets harder and harder. That anxiety is what we’re seeing in the markets.   Most importantly, this too shall pass. I continue to see Trump as a man who knows when it’s time to pivot. I continue to trust that he’ll get this right. I’m also reminded in times like these that it’s important to consider most war headlines for what they are; MSM fake news and/or misinformation/disinformation from the military industrial complex (as strategy).  Economically, America has unbeatable moats that exist nowhere else on the planet. These moats are structural, not temporary, based in large part on our commitment to free market capitalism. In addition, the dollar remains as the world’s reserve currency, responsible for 60% of global transactions, which forces foreign capital to “recycle” back into US assets. Our capital markets (public and private) are the deepest and most liquid on earth. Our tech advantages give us a near insurmountable lead in AI and of course we also lead in energy, which now incudes the US as the largest exporter of both oil and LNG. Significantly, all of these advantages widen under stress. The fact is, this war is accelerating trends that favor the US (short and long term). Our competition burns reserves while American innovation...fueled by trillions in annual R&D…results in nonstop commercial breakthroughs, as we’ll continue to see as the Innovation Revolution powers ahead. Supply chains re-shore (quickly) and investors will continue to flee to the US. Again, these structural advantages will only strengthen as the war rolls on.  As we’ll see again beginning in two weeks, US corporate earnings are compounding and valuations will continue to re-rate higher, as our equity markets surge (yes, prior to the war ending). America will exit stronger than before and our markets will begin pricing it in, before the smoke clears. This is why we are staying long and strong. We believe "missing the turn” will cost investors dearly.

Torsten is right

Law of one price lost on him I guess

I guess it really matters when you close $ES scalp. One tweet and it's red to green. This is not a fun market.