📈 Market Direction & Momentum

• “Sell in May” is getting invalidated hard. The tape is strong enough that the seasonal bear case looks like a trap rather than a signal. 1

• $SPX momentum is stretched but still dominant. The index has been green for the 9th day in a row and the 10th week in a row. That kind of streak screams trend persistence, but also raises the odds of a near-term cooldown. 2

• Large-cap indices remain in risk-on mode. SPY / QQQ / DIA are all green, and the bull tape still has momentum rather than looking exhausted. 3

• Hot themes are rotating fast. Plenty of runners are working, but easy entries are thinning out. The edge now is in hunting for names where risk/reward is still clean, not chasing every breakout. 4

🧪 Stock Setups & Trading Calls

• $MXL has a clean technical setup. It is forming a Holy Grail setup after a strong post-PEG run, with the first pullback to the 20 day EMA since the late April PEG. The stock is framed as explosive, with upside target at $110 to $115. 5

• $MRVL dip-buy logic is driven by conviction around Nvidia-linked upside. The trade thesis is simple: if “黄皮衣” is openly talking up $MRVL toward a 1T market cap, fading that call is harder than following it. The position was sold too early, then bought back. 6

🏠 Macro & Housing

• The current US housing market is more expensive than the 2006 bubble. Inflation-adjusted US home prices are now about 21% above the 2006 peak. This is not “near bubble levels”; it has already cleared the old high. 7

🚀 Space / Blue Origin

• Blue Origin’s NG-4 aftermath looks less damaging than feared. Key long-lead infrastructure survived: propellant storage, oxygen, liquid hydrogen, LNG tanks, and the water tower are all in good condition. The damaged large support tower can be repaired in place instead of demolished and rebuilt. That materially improves the path to a New Glenn relaunch before year-end. 8