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Looks promising as a spec. Couldn't find anything wrong with it.

We are looking at a lot of volatility in the summer and the market is range bound because of this volatility. It should break out to the upside rather than downside at some point but we just have to get through the summer first. The next phase of AI, now that the infrastructure is in place, is all about the end users bringing AI to the edge. A good example is EV's computing to devices outside of the cloud. This can facilitate bringing in new products. There is a desire to have the decisions made on the factory floors, not the cloud, and the enablers do this. AI was a technology story but now it's more of an earnings story. It's for the consumers but is also spreading to the enterprise side.

Crude oil levels returned to pre-war levels below $70, but other assets have not fallen back. However, oil futures past 2032, prices going forward are more negative than they were pre-war. This means that the long-run supply/demand story is getting more and more bearish for the price of crude oil. Maybe because we have more friendly supply of oil coming on market. Looking at the futures contract: Last February, there were 2-2.5 rate cuts priced into the December futures contract. When war broke out and oil prices spike, the expectation changed from rate cuts to hikes. Last week, 1.25 rate hikes were priced in by the end of the year. He predicts the US Fed to pause, but wants to read the Fed minutes and the impact of oil prices on interest rates. Also, the bond market is saying it's worried about inflation, in contrast to the message from the stock market. Finally, as we start Q2 earnings season, earnings growth has accelerated a lot this year, which is supporting the stock market; geopolitics and inflation have almost nothing to do with the strong market this year.