Dear Reader,

With the 4th of July holiday – and the volatility I expected on July 5 – behind us, some clear trends are starting to take shape.

I’ve been telling you for weeks that July 5 was going to be a volatile day.

Now, we did see some volatility. But it’s what traders and analysts sometimes call “socially acceptable volatility.”

That’s volatility to the upside.

To be honest, I wasn’t expecting it. But the jobs numbers came in cooler than expected.

And the markets loved it – because the white-hot employment numbers have kept the Fed from lowering interest rates.

So it looks like the markets are anticipating a cut in the near future.

And longer term, stocks still look strong, still approaching the 580 target level we’ve been looking at for the last few weeks:

We got to the 550 level (the lower end of the 550-580 target range I’ve been highlighting) faster than expected.

And stocks look like they could have enough juice to get to 580 in short order. That’s the next major resistance.

There’s just one thing that could derail the uptrend in SPY (hint: it’s the Final Phase I’ve been telling you about).

Bonds continue to drift lower, and I’m still targeting the 87.50 level on TLT…

Oil is just about out of the seasonal bull patter that begins mid-February and ends mid-July. But despite this seasonal trend, crude’s trending up and looks like it could be ready to take out resistance above the 82.50 level.

Gold, too, continues to surprise to the upside thanks to uncertainty in the economy and the upcoming election, and I’ve got a nice, round 250 target on GLD…

Now, it’s not all good news.

My projections for SPY are based on the current price action.

Longer term, the markets are in for a massive reckoning when AI stocks come crashing down.

And if you don’t know how to trade this centuries-old pattern, you could not only miss out on AI’s biggest gains so far…

But you could lose your shirt when boom turns to bust.

Instead, join me tomorrow, July 9 at 8 p.m. Eastern. I’m hosting a free strategy session to help traders navigate what I call the Final Phase.

AI stocks are about to go from white hot to utter collapse – and it’ll happen in the blink of an eye.

And if you’re holding AI stocks, you won’t be able to sell shares fast enough.

But if you trade it the right way, you can pocket more profits in the next few months than we’ve seen on AI stocks in the past five years – and get out clean, before the bust.

Click here to join me – and I’ll see you then.

Good trading,

Tom Gentile
America’s Pattern Trader