Good morning, Traders:

QT officially ended yesterday. That sounds boring… until you realize the entire way this system gets funded just changed.

When that happens, markets don’t move in straight lines.

They lurch.
They squeeze.
They trap people who are even a half-step late.

On the surface, it all looks “fine.”

The S&P and Nasdaq are green and pushing toward all-time highs. The Russell’s had a big run of its own. If you just stare at price, you’d think nothing is wrong.

Underneath, it’s a lot messier.

The squeeze off last Monday’s lows hit like a fire hose and yanked us from washed-out to full risk-on in a few days. Now we have to answer the real question:

How much of this is real money willing to sit through a policy shift…
and how much was just shorts getting run over?

That’s what we’re going to tackle live this morning.

We’ll break down what this means for traders and investors today — what matters, what doesn’t, and where the real risk sits right now.

Then I’ll hand you today’s Runner — my daily tip sheet with the names, levels, and setups you can trade the moment the bell rings.

We’re live at 8:45 sharp…

Click the link… and I’ll see you there…

Stay positive,

Garrett Baldwin