In this weekly market review we recap the week by starting with the second significant gap down starting Sunday night with the talk of heavy tariffs coming in starting February 1st on Canada, Mexico and China. The prior week gap down was due to the Deepseek story. To have two large gap downs like we have seen in a row is more than fishy. I think both were setups to allow the large funds playing on “the inside” to move some sizeable positions along with making some serious money. We know that just Nvidia alone lost almost $600B in market cap from the Deepseek swoon and the gap down this past weekend over tariffs was even more significant across markets from all I could tell.
With that in mind, we then saw a visit to the White House from Israel’s Netanyahu. After the suspected rear end kissing we saw discussion over Gaza and relations with Egypt, Joran and the Saudis along with the expected talk over the Palestinians and Hamas. The auto industry is discussed along with the tech earnings of this week. DOGE and the USAID revelations and the fallout so far. We talk about the jobs report, carried interest, and what the confirmation of Pam Bondi means. A brief overview of the major markets including the US Dollar, US 10 Year Note, Crude, Gold, Silver, Copper and Corn markets. Check out the Strategy Session for next week available Sunday evening. Have a nice weekend everyone!