By Nigam Arora

Weekly Digest from The Arora Report is popular among serious investors and money managers because they have found studying insights from the prior week gives them an edge over the coming weeks. Here is the day by day rundown from the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers of The Arora Report. 

Please scroll down for the section ‘Protection Bands and What To Do Now.’

CONSUMERS SPLURGE, INTEL, GLOBALFOUNDRIES, LILLY, PACCAR, AMERICAN WOODMARK BENEFIT FROM NEW TARIFFS

Sep 26, 2025

To gain an edge, this is what you need to know today.

New Tariffs

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows there is buying this morning after the release of economic data.
• The chart shows the stock market has pulled back from all time highs yesterday.
• The chart shows the stock market is well above zone 1 (support).
• RSI on the chart shows the stock market is no longer overbought.
• President Trump has announced new tariffs that will take effect October 1.  Here are the details:
  • 100% tariffs on pharmaceuticals unless the company is building a manufacturing plant in the U.S.  This is benefiting Eli Lilly (LLY) and other pharmaceutical companies that already announced plans for U.S. plants.  This is negative for Novo Nordisk (NVO).  ZYX Buy by The Arora Report has a very profitable position in LLY.
  • 25% tariffs on heavy trucks imported to the U.S.  This is benefiting Paccar (PCAR).
  • 50% tariffs on cabinets.  This is benefiting American Woodmark (AMWD).
  • 30% tariffs on upholstered furniture.   This is helping La-Z-Boy (LZB).  This is negative for Wayfair (W) and RH (RH).  ZYX Short by The Arora Report has a profitable short position in W.
• The Trump administration is reviewing a plan to increase U.S. semiconductor production.  The intention is to have a 1:1 ratio of chips manufactured domestically vs. overseas.  Semiconductor manufacturers that do not maintain that ratio could face 100% tariffs.  This news is benefiting Intel (INTC) and GlobalFoundries (GFS).  ZYX Buy by The Arora Report has a nicely profitable position in INTC.
• In November, the Supreme Court will hear arguments on the Trump administration’s global tariffs.
• This morning DJIA is jumping.  The reason is its component Boeing (BA) is jumping as the FAA is scaling back restrictions on plane deliveries.  BA is in the ZYX Buy Core Model Portfolio.
• The U.S. economy is 70% consumer based.  For this reason, prudent investors pay attention to personal income and personal spending.  The just released data shows consumers are splurging.  Here are the details:
  • Personal spending came at 0.6% vs. 0.4% consensus.
  • Personal income came at 0.4% vs. 0.3% consensus.
• In The Arora Report analysis, the consumer spending data is distorted.  The top 10% are excessively spending.  The bottom 60% are pulling back.  
• PCE is the Fed’s favorite inflation gauge.  Inflation came inline with expectations.  Here are the details:
  • Headline PCE came at 0.3% vs. 0.3% consensus.
  • Core PCE came at 0.2% vs. 0.2% consensus.
• University of Michigan consumer sentiment will be released at 10am ET and may be market moving.
• As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents.   Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

Most portfolios are now heavily concentrated in the Mag 7 stocks.  For this reason, to get ahead and get an edge, investors need to dig below the surface of the Mag 7 stocks.  It is equally important to rise above the noise of daily news on the Mag 7 stocks.  The best way to get an edge, dig below the surface, and rise above the noise of the daily news is to pay attention to early money flows in the Mag 7 stocks on a daily basis.  When there is significant news in the Mag 7 stocks that rises above the threshold of noise and impacts your entire portfolio, it is covered in the main section above.

In the early trade, money flows are positive in Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Alphabet (GOOG), Meta (META), and Tesla (TSLA).

In the early trade, money flows are negative in Apple (AAPL).

In the early trade, money flows are positive in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** (To see the locked content, please take a 30 day free trial) stocks in the early trade.  Smart money is *** in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling.  Over a long period of time, investors come out ahead by adopting smart money’s ways.  The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money. Smart money is an important indicator but is only one of hundreds of indicators that go into determining the Arora Protection Band and signals.  Please click here and here to understand how signals are generated.

Very Very Short-Term Indicator

The Arora Report’s proprietary very, very short-term early stock market indicator is ***.  This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Gold

The momo crowd is *** gold in the early trade.  Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is *** in oil in the early trade.  Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is range bound after seeing selling yesterday.

Markets

Interest rates are ticking down, bonds are ticking up.

The dollar is weaker.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

S&P 500 futures are trading at 6669 as of this writing.  S&P 500 futures resistance levels are 6780, 7000, and 7200: support levels are 6500, 6256, and 6131.

DJIA futures are up 218 points.

Gold futures are at $3780, silver futures are at $45.33, and oil futures are at $64.98.

Arora Protection Band And What To Do Now

It is important for investors to look ahead and not in the rearview mirror.  The proprietary Arora Protection Band from The Arora Report is very popular.  The Arora Protection Band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.

Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider holding *** in cash, Treasury bills, short term fixed income, or allocated to short-term tactical trades; and short to medium-term hedges of ***, and short term hedges of ***. This is a good way to protect yourself and participate in the upside at the same time.

You can determine your protection bands by adding cash to hedges.  The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.  If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.

A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.  A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.

It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.  When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.  High beta stocks are the ones that move more than the market.

Traditional 60/40 Portfolio

Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.

Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.  Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.

TRADING BREAKTHROUGH WITH QUANTUM COMPUTING, STRONG ECONOMIC DATA UPSETS MOMO CROWD IN STOCK MARKET

Sep 25, 2025

To gain an edge, this is what you need to know today.

Quantum Breakthrough

Please click here for a chart of Lithium Americas stock (LAC).

Note the following:

• The Morning Capsule is about the big picture, not an individual stock.  The chart of LAC stock is being used to illustrate the point.
• The chart shows extremely aggressive momo crowd buying in LAC stock.
• The buying shown on the chart is in part driven by a short squeeze.  The trigger for the buying is the U.S. government’s intention to seek up to a 10% stake in Lithium Americas.  Lithium Americas is a Canadian lithium miner and a majority owner of Thacker Pass mine in Nevada.  General Motors (GM) owns a minority stake in the mine.
• Under the Biden administration the Department of Energy had agreed to give Lithium Americas a $2.2B loan.  It is likely that Lithium Americas will not get any new money but will end up diluting its existing shareholders as the government gets equity as a gift.  The momo crowd is oblivious to President Trump’s statement that nothing is free.  In reality, this is a negative development for LAC shareholders.  The momo crowd is buying LAC stock as pumpers promote a highly flawed comparison to MP Materials (MP).  MP Materials is a rare earth mineral miner.  MP stock ran up when the Department of Defense took 15% equity.  The big difference is in the case of MP Materials, the Department of Defense is also buying rare earth minerals from MP Materials at above market prices.  In the case of Lithium Americas, the government does not plan on buying any lithium from the company.   Further, the supply of lithium in the world is significantly higher than current demand.  In contrast, China has a stranglehold on rare earth minerals and has used this to gain a formidable advantage in trade talks with the U.S.
• From a big picture point of view, the move up in LAC is a sign of extremely positive sentiment and high liquidity.  The insanity being seen right now in the momo crowd’s buying of LAC stock is typically seen in periods of extreme positive sentiment.
• As we have shared with you before, extreme sentiment is a contrary indicator.  In plain English, this means sell.  However, several nuances are worth a reminder:
  • Sentiment is not a precise timing indicator.
  • Sentiment can stay in the extreme positive zone for a long time.
  • When sentiment is in the extreme positive zone, it does not mean to sell wholesale.  It means the following:
    • Be highly cautious in starting new strategic positions.
    • Most new positions should be tactical.
    • It is important to have strict risk controls such as appropriate position sizes and stop losses.
    • There is merit to trimming or taking partial profits.
  • As an actionable item, when sentiment is in the extreme positive zone, most investors should consider being in the upper half of the Arora Protection Band.
• We have been sharing with you extremely aggressive momo crowd buying in nuclear smart modular reactor stock Oklo (OKLO) as a result of extremely positive overall sentiment in the market.  Such spikes are common when the sentiment is extremely positive.  You may be asking what insiders are doing – insiders are selling, taking advantage of momo crowd buying.  Smart money is also selling OKLO stock.  It is also common behavior as smart money takes advantage of the momo crowd.  As of this writing, OKLO stock has fallen from a high of $144.45 yesterday to $110.83 as of this writing in the premarket.  Unless the stock rebounds, the momo crowd will be left holding the bag as is often the case when it is all said and done.
• Prudent investors should note that just like OKLO, there is significant insider selling in most stocks that the momo crowd is running up.
• We have been sharing with you that there have been many pull forwards in different ways in this stock market.  This morning,  used car dealer CarMax (KMX) is illustrating the dangers when investors do not understand pull forward.  As of this writing, KMX stock is falling about 18% as the company admits that previously its sales were pulled forward as consumers bought ahead of tariffs.
• There is more excitement about Intel (INTC) as the company seeks investment from Apple (AAPL).
• HSBC (HSBC) is Europe’s largest lender.  In a first, HSBC is reporting a quantum breakthrough in bond trading using quantum computing.   In a test using quantum computing, the bank saw a 34% increase in correctly predicting the probability of a trade fill at the quoted price compared with present day techniques.  HSBC used a quantum computer from International Business Machines (IBM).  IBM stock is jumping.  Other quantum computing stocks such as IonQ (IONQ), Rigetti (RGTI), Quantum Computing (QUBT), D-Wave Quantum (QBTS) continue to levitate but are not significantly rallying as of this writing because they are very overbought and smart money is selling, taking advantage of the spikes caused by extremely aggressive momo crowd buying.
• Just released GDP data shows the economy is strong.  Here are the details:
  • Q2 GDP Third Estimate came at 3.8% vs. 3.3% consensus.
  • GDP Deflator Third Estimate came at 2.1% vs. 2.0% consensus.
• Durable orders data is also strong.
  • Durable orders came in at 2.9% vs -0.5% consensus.
  • Durable orders ex-transportation came at 0.4% vs -0.1% consensus.
• Initial jobless claims came at 218K vs. 238K consensus. This data is also very strong. Initial jobless claims is a leading indicator and carries heavy weight in our adaptive ZYX Asset Allocation Model with inputs in ten categories.  In plain English, adaptiveness means that the model changes itself with market conditions.  Please click here to see how this is achieved.  One of the reasons behind The Arora Report’s unrivaled performance in both bull  and bear markets is the adaptiveness of the model.  Most models on Wall Street are static.  They work for a while and then stop working when market conditions change.
• The strong economic data is upsetting momo gurus’ narrative they use to persuade the momo crowd to aggressively buy stocks.  Momo gurus’ narrative has been that the economy is weak and that will persuade the Fed to aggressively cut interest rates.  The fact that momo gurus are wrong again is nothing new.  It is not a problem for momo gurus as they are good at being chameleons.  Expect momo gurus to come up with a new narrative to persuade the momo crowd to buy stocks.
• The Fed’s favorite inflation gauge, PCE, will be released tomorrow at 8:30am ET.
• As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents.   Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

Most portfolios are now heavily concentrated in the Mag 7 stocks.  For this reason, to get ahead and get an edge, investors need to dig below the surface of the Mag 7 stocks.  It is equally important to rise above the noise of daily news on the Mag 7 stocks.  The best way to get an edge, dig below the surface, and rise above the noise of the daily news is to pay attention to early money flows in the Mag 7 stocks on a daily basis.  When there is significant news in the Mag 7 stocks that rises above the threshold of noise and impacts your entire portfolio, it is covered in the main section above.

In the early trade, money flows are neutral in Apple (AAPL) and Amazon (AMZN).

In the early trade, money flows are negative in Alphabet (GOOG), Nvidia (NVDA), Microsoft (MSFT), Meta (META), and Tesla (TSLA).

In the early trade, money flows are negative in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** in the early trade.  Smart money is *** in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling.  Over a long period of time, investors come out ahead by adopting smart money’s ways.  The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money. Smart money is an important indicator but is only one of hundreds of indicators that go into determining the Arora Protection Band and signals.  Please click here and here to understand how signals are generated.

Very Very Short-Term Indicator

The Arora Report’s proprietary very, very short-term early stock market indicator is ***.  This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Gold

The momo crowd is *** in gold in the early trade.  Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is *** in oil in the early trade.  Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is seeing selling

Markets

Interest rates are ticking up, and bonds are ticking down.

The dollar is stronger.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

S&P 500 futures are trading at 6656 as of this writing.  S&P 500 futures resistance levels are 6780, 7000, and 7200 : support levels are 6500, 6256, and 6131.

DJIA futures are down 136 points.

Gold futures are at $3766, silver futures are at $44.78, and oil futures are at $64.70.

POWELL SAID STOCKS ‘HIGHLY VALUED’ – REMEMBER AFTER ‘IRRATIONAL EXUBERANCE’ STOCK BUBBLE INFLATED MORE BEFORE CRASH

Sep 24, 2025

To gain an edge, this is what you need to know today.

Remember 1996 Stock Market

Please click here for a chart of Micron stock (MU).

Note the following:

• The Morning Capsule is about the big picture, not an individual stock.  The chart of MU stock is being used to illustrate the point.
• The chart shows yesterday’s price action in MU stock was on higher volume.
• Yesterday, we shared with you MU stock was overbought and overbought stocks are susceptible to a pullback.
• The chart shows MU stock is down after reporting excellent earnings.  Earnings and projections were better than the consensus and whisper numbers.
• The chart shows MU stock has broken below the trendline.
• Immediately after the release of Micron earnings, the momo crowd bought MU stock extremely aggressively, running MU stock as high as $174.92.
• The chart shows that as of this writing MU stock has pulled back to $164.80, about $10 off from its after hours peak immediately after the earnings release.
• In The Arora Report analysis, the price action on the MU chart shows that the reason the stock fell even after reporting stellar earnings is that MU stock had pulled forward the good news.  
• In The Arora Report analysis, prudent investors should be aware that almost all of the top performing stocks have pulled forward the potential future good news.  
• The MU chart provides good context for Fed Chair Powell’s statement yesterday in which he warned that stocks appear to be ‘fairly highly valued’.
• Smart money sold after Fed Chair Powell’s warning.  Can you guess what the momo crowd did when stocks dipped?  You guessed right – the momo crowd aggressively bought the dip.
• In the Interim Capsule, The Arora Report call was:

Consider trimming some tactical positions, booking partial profits, and moving higher in the protection band based on personal preference and risk appetite.  Consider holding strategic positions.

• To understand Fed Chair Powell’s warning, prudent investors need to remember December 5, 1996.  On that day, then Fed Chairman Alan Greenspan made his famous ‘irrational exuberance’ speech.  Greenspan said, “But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?”
• To put it in the proper context, Nikkei 225 in Japan hit its all time high of 38,915.87 on December 29, 1989.  Nikkei 225 closed at 20,943.90 on the day of Greenspan’s irrational exuberance speech, a 46.2% drop from its peak.    Stocks in Japan continued to fall with Nikkei 225 reaching 7054.98 on March 10, 2009, 81.9% off its 1989 peak.  Coincidently, only one day before, on March 9, 2009, when almost everyone on Wall Street was saying to sell stocks, The Arora Report gave the famous ‘back up the truck’ and buy stocks signal.  At that time, it was a very bold call.  Now we know that March 9, 2009 was the exact bottom in U.S. stocks, and an epic bull market followed.  There is a nicely profitable position in Japan ETF EWJ in ZYX Allocation.
• Investors need to remember that after Greenspan’s warning, the momo crowd continued to aggressively buy stocks, inflating the dot com bubble, and finally the stock market crashed in 2000.
• In The Arora Report analysis, the probability is fairly high that history may repeat itself again.  The best tool investors have to handle the situation is the Arora Protection Band.  
• Yesterday we shared with you the breakthrough in quantum computing.  This morning, aggressive buying in quantum computing stocks such as IonQ (IONQ), Rigetti (RGTI), Quantum Computing (QUBT), and D-Wave Quantum (QBTS) continues.
• We previously shared with you the extreme exuberance among investors for nuclear stocks.  The extreme exuberance in nuclear stocks such as Oklo (OKLO), NuScale Power (SMR), NANO Nuclear Energy (NNE), and Cameco (CCJ) continues.
• As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents.   Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

Most portfolios are now heavily concentrated in the Mag 7 stocks.  For this reason, to get ahead and get an edge, investors need to dig below the surface of the Mag 7 stocks.  It is equally important to rise above the noise of daily news on the Mag 7 stocks.  The best way to get an edge, dig below the surface, and rise above the noise of the daily news is to pay attention to early money flows in the Mag 7 stocks on a daily basis.  When there is significant news in the Mag 7 stocks that rises above the threshold of noise and impacts your entire portfolio, it is covered in the main section above.

In the early trade, money flows are positive in Apple (AAPL), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta (META), and Tesla (TSLA).

In the early trade, money flows are neutral in Alphabet (GOOG).

In the early trade, money flows are positive in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade.  Smart money is *** in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling.  Over a long period of time, investors come out ahead by adopting smart money’s ways.  The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money. Smart money is an important indicator but is only one of hundreds of indicators that go into determining the Arora Protection Band and signals.  Please click here and here to understand how signals are generated.

Very Very Short-Term Indicator

The Arora Report’s proprietary very, very short-term early stock market indicator is ***.  This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Gold

The momo crowd is *** in gold in the early trade.  Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

API crude inventories came at a draw of 3.821M barrels vs. a prior draw of 3.420M barrels.

Oil is moving up on President Trump changing his stance on Ukraine.  

The momo crowd is *** oil in the early trade.  Smart money is *** oil in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is range bound.

Markets

Interest rates are ticking up, and bonds are ticking down.

The dollar is stronger.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

S&P 500 futures are trading at 6728 as of this writing.  S&P 500 futures resistance levels are 6780, 7000, and 7200 : support levels are 6500, 6256, and 6131.

DJIA futures are up 70 points.

Gold futures are at $3800, silver futures are at $44.40, and oil futures are at $64.26.

MICRON TO TEST AI RALLY AFTER NVIDIA-OPEN AI DEAL DROVE AI TRADE HIGHER, QUANTUM BREAKTHROUGH, CHINA GOLD MOVE

Sep 23, 2025

To gain an edge, this is what you need to know today.

AI Rally Test

Please click here for a chart of Micron stock (MU).

Note the following:

• The Morning Capsule is about the big picture, not an individual stock.  The chart of MU stock is being used to illustrate the point.
• The trendline on the chart shows MU stock has gone parabolic.  The reason for the parabolic move is that money started flowing into second tier AI plays.  Investors are already overweight in first tier AI plays, such as Nvidia stock (NVDA).
• RSI on the chart shows MU stock is overbought.  Overbought stocks are susceptible to a pullback.
• MU is in ZYX Buy in the portfolio that surrounds the Core Model Portfolio.  MU is long from $21.77.  MU is trading at $166.15 as of this writing in the premarket, representing a 663% gain.
• Micron is scheduled to report earnings today after the regular session close.  Investors have high expectations for Micron earnings given rising memory prices and momentum from the AI trade driving revenue from Micron’s high bandwidth memory.
• Micron earnings will test the AI rally that was triggered by recent Nvidia moves.
• Nvidia announced a strategic partnership with OpenAI along with a $100B investment in OpenAI for data center and power capacity.  Details are being finalized, but Nvidia and OpenAI expect the first phase, which will use Nvidia’s upcoming Rubin platform, to be online in the later half of 2026.
• In The Arora Report analysis, Nvidia is acting as a backstop for OpenAI financing to keep the AI rally going.  Further, in The Arora Report analysis, Nvidia has now become the king maker in AI.    
• IonQ (IONQ) reached a technological breakthrough in quantum computing.  IonQ demonstrated the conversion of visible photons into telecom wavelengths from its trapped-ion systems.  The breakthrough is a critical milestone to interconnecting quantum computers using existing fiber optic cables over long distances.  This is a step towards a distributed quantum internet.  Other quantum stocks like RGTI, QUBT, and QBTS are also moving on the news.  There is a position in RGTI in ZYX Buy.
• Quantum computing has a very bright future and will provide significant opportunities for investors.  In The Arora Report analysis, right now quantum computing stocks are way overvalued and present significant risk.  Investors need to be ultra-cautious because much of the information on quantum computing stocks in the media and coming out of Wall Street is highly promotional and not objective.  It is important for investors to understand that there are several quantum computing technologies.  It is not known at this time which technology will win.  For those who want next level knowledge, there is a podcast series on quantum computing in Arora Ambassador Club, providing investors with objective information and knowledge.
• Investors are excited about Rocket Lab’s (RKLB) two spacecraft arriving at the Kennedy Space Center.  The spacecraft will study Mars’s magnetosphere.  In The Arora Report analysis, space will present significant opportunities over the coming years; however, right now, space stocks are way overhyped.
• Adding to exuberance in AI, Oracle (ORCL) stock ran up yesterday on the announcement of Mike Sicilia and Clay Magouyrk as new co-CEOs.  Sicilia brings a depth of experience in applied AI and Magouyrk built Oracle Cloud Infrastructure.  This is on top of the exuberance created by President Trump’s decision that Oracle will manage the TikTok algorithm.
• Fed Chair Powell will speak today around 12:30pm ET.  Powell’s speech may be market moving.  At The Arora Report, we will be carefully listening for clues about future interest rate cuts.
• As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents.   Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

Most portfolios are now heavily concentrated in the Mag 7 stocks.  For this reason, to get ahead and get an edge, investors need to dig below the surface of the Mag 7 stocks.  It is equally important to rise above the noise of daily news on the Mag 7 stocks.  The best way to get an edge, dig below the surface, and rise above the noise of the daily news is to pay attention to early money flows in the Mag 7 stocks on a daily basis.  When there is significant news in the Mag 7 stocks that rises above the threshold of noise and impacts your entire portfolio, it is covered in the main section above.

In the early trade, money flows are positive in Amazon (AMZN), Alphabet (GOOG), Meta (META), and Tesla (TSLA).

In the early trade, money flows are neutral in Microsoft (MSFT).

In the early trade, money flows are negative in  Apple (AAPL) and Nvidia (NVDA).

In the early trade, money flows are neutral in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade.  Smart money is *** in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling.  Over a long period of time, investors come out ahead by adopting smart money’s ways.  The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money. Smart money is an important indicator but is only one of hundreds of indicators that go into determining the Arora Protection Band and signals.  Please click here and here to understand how signals are generated.

Very Very Short-Term Indicator

The Arora Report’s proprietary very, very short-term early stock market indicator is indeterminable as it will depend upon Fed Chair Powell’s speech.  This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Gold

Gold has continued to rocket with gold futures crossing $3800 as of this writing.  

China is making a major move to increase its national standing in the bullion market.  China aims to become a major custodian of sovereign gold funds.  This is taking a direct aim at the U.S.’s supremacy in this area.  

The momo crowd is *** gold in the early trade.  Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is *** oil in the early trade.  Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is range bound.  Money continues to flow out of bitcoin and ether (ETH.USD) in to gold ETF (GLD) and silver ETF (SLV).

Markets

Interest rates are range bound.

The dollar is range bound.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

S&P 500 futures are trading at 6751 as of this writing.  S&P 500 futures resistance levels are 6780, 7000, and 7200 : support levels are 6500, 6256, and 6131.

DJIA futures are up 44 points.

Gold futures are at $3818, silver futures are at $44.64, and oil futures are at $63.05.

PRUDENT INVESTORS CONCERNED ABOUT EXTREME EUPHORIA REPRESENTED BY OKLO RALLY AND IMPACT OF TRUMP’S $100K VISAS ON MAG 7

Sep 22, 2025

To gain an edge, this is what you need to know today.

Extreme Euphoria

Please click here for a chart of Oklo stock (OKLO).

Note the following:

• The Morning Capsule is about the big picture, not an individual stock.  The chart of OKLO stock is being used to illustrate the point.
• The chart shows extreme euphoria in OKLO stock.
• The VUD indicator on the chart helps investors dig below the surface.  The VUD indicator is the most sensitive measure of net supply demand in real time. The orange represents net supply and the green represents net demand.
• The chart shows the VUD indicator is mostly green.  Typically, when a stock goes parabolic, there are strong periods of orange in the VUD indicator; this is not the case with OKLO stock.  The interpretation is extreme euphoria.
• OKLO is an important stock for the entire stock market because it is developing smart modular reactors to provide nuclear power for AI data centers, OpenAI CEO Sam Altman is an ex-chairman of Oklo, Energy Secretary Chris Wright was on Oklo’s board, and OKLO is one of the most popular stocks among the momo crowd.
• The euphoria in OKLO stock started building prior to President Trump’s visit to the U.K. on rumors that President Trump would announce major contracts for Oklo in the U.K.
• Leading to President Trump’s visit, OKLO added $3.69B in market cap.
• During and after President Trump’s visit to the U.K., OKLO added another $6.05B to its market cap.
• The rampant speculation about contracts in the U.K. has nearly doubled OKLO’s market cap to $19.96B.
• By now, you may be asking how big are the nuclear power contracts for Oklo in the U.K.?  The answer may surprise you – President Trump did not announce any contracts for Oklo.  As of this writing, there are no firm contracts for Oklo in the U.K.  Does it concern the momo crowd that has been euphorically buying OKLO stock?  The answer is no as they have already moved on to buying based on today’s news.  This morning, the momo crowd is buying OKLO stock as the media highlights that Oklo will conduct a groundbreaking ceremony at Idaho National Laboratory for its first Aurora powerhouse. The momo crowd is oblivious that this event was long planned and is the result of old news that was already discounted.
• Nuclear energy has a bright future and represents significant opportunities for investors.  Smart modular reactor company NuScale Power (SMR) is in ZYX Buy in the portfolio that surrounds the Core Model Portfolio.  There is also a list of 12 nuclear stocks divided into five categories of opportunity available from the main menu of ZYX Buy.  These categories are conventional nuclear power, uranium, smart modular reactors, nuclear fuel, and suppliers. For those who want next level understanding of the implications of OKLO euphoria, a new podcast titled “Irrational Smart Modular Reactor U.K. Frenzy – Opportunities In Nuclear Part 6” is in post-production.
• Prudent investors know that the extreme euphoria in OKLO has implications for the entire stock market.  The OKLO move is another data point in what we have been sharing with you that sentiment is in the extreme positive zone.  Extreme sentiment is a contrary indicator.  In plain English, this means sell.  However, several nuances are worth a reminder:
  • Sentiment is not a precise timing indicator.
  • Sentiment can stay in the extreme positive zone for a long time.
  • When sentiment is in the extreme positive zone, it does not mean to sell wholesale.  It means the following:
    • Be highly cautious in starting new strategic positions.
    • Most new positions should be tactical.
    • It is important to have strict risk controls such as appropriate position sizes and stop losses.
    • There is merit to trimming or taking partial profits.
  • As an actionable item, when sentiment is in the extreme positive zone, most investors should consider being in the upper half of the Arora Protection Band.  
• President Trump announced that there will be a $100K fee for new H1B visa applicants.  There is a lot of noise in the media on this matter.  Investors should avoid the noise and stay laser focused on what it means for the stock market.  There is a serious concern among prudent investors this morning that the new fee will reduce growth in the U.S. overall as the U.S. already suffers from a shortage of highly skilled technical professionals.  Further, there is concern that the impact will be negative for the Magnificent Seven.  To understand the impact, investors should consider the companies that are the largest users of the H1B program.  The largest users of H1B are Amazon (AMZN), Cognizant Technology Solutions (CTSH), Google (GOOG), Microsoft (MSFT), Infosys (INFY), Meta (META), Intel (INTC), JPMorgan Chase (JPM), Apple (AAPL), and Walmart (WMT).  ZYX Short by The Arora Report has a short position in INFY.
• In The Arora Report analysis, the new fee on H1B visas will neither have a negative impact on growth nor a negative impact on Mag 7 companies for the following reasons:
  • All of the companies named above already have extensive operations in India.  These companies will simply hire more people in India instead of bringing them to the U.S.
  • There appears to be no impact on existing H1B holders as long as they stay with the same employer.
  • A big percentage of H1B holders are software coders.  AI is already coding about one half of software, reducing the need for coders.
  • Expect companies to become more efficient using AI and thus simply employ fewer skilled engineers.
• There is also a concern that Americans who will get the jobs that would have otherwise gone to H1B holders will need to be paid higher wages, and this will lead to higher inflation.  In The Arora Report analysis, the new fee will not lead to higher inflation because the number of jobs impacted is very small compared to the massive U.S. economy.  
• In The Arora Report analysis, it is conceivable that the new $100K visa fee is a classic Trump technique to put pressure on India in trade negotiations that are just beginning again.  
• In a rare occurrence this morning, money is moving out of bitcoin (BTC.USD) and ether (ETH.USD) and into gold ETF (GLD) and silver ETF (SLV).  
• The Fed’s newest member Stephen Miran will be speaking today and providing the rationale behind his dissent in the last FOMC meeting.  If he is persuasive, his speech may bring buying into the stock market.
• As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents.   Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

India

There is concern in the Indian stock market that the new visa fee will negatively impact India in a big way.  In The Arora Report analysis, the new fee will have a negative impact in the short term but will likely be a positive for India in the long term.  

Magnificent Seven Money Flows

Most portfolios are now heavily concentrated in the Mag 7 stocks.  For this reason, to get ahead and get an edge, investors need to dig below the surface of the Mag 7 stocks and indexes.  It is equally important to rise above the noise of daily news on the Mag 7 stocks.  The best way to get an edge, dig below the surface, and rise above the noise of the daily news is to pay attention to early money flows in the Mag 7 stocks and indexes on a daily basis.  When there is significant news in the Mag 7 stocks that rises above the threshold of noise and impacts your entire portfolio, it is covered in the main section above.

In the early trade, money flows are positive in Apple (AAPL) and Tesla (TSLA).

In the early trade, money flows are negative in Amazon (AMZN), Alphabet (GOOG), Nvidia (NVDA), Microsoft (MSFT), and Meta (META).

In the early trade, money flows are negative in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade.  Smart money is *** in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling.  Over a long period of time, investors come out ahead by adopting smart money’s ways.  The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money. Smart money is an important indicator but is only one of hundreds of indicators that go into determining the Arora Protection Band and signals.  Please click here and here to understand how signals are generated.

Very Very Short-Term Indicator

The Arora Report’s proprietary very, very short-term early stock market indicator is neutral.  This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Gold

The momo crowd is *** gold in the early trade.  Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is *** oil in the early trade.  Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is seeing selling.

Markets

Interest rates are ticking down, and bonds are ticking up.

The dollar is weaker.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

S&P 500 futures are trading at 6700 as of this writing.  S&P 500 futures resistance levels are 6780, 7000, and 7200 : support levels are 6500, 6256, and 6131.

DJIA futures are down 165 points.

Gold futures are at $3750, silver futures are at $43.75, and oil futures are at $61.92.

To take a free 30-day trial to paid services to gain access to more opportunities, please click here.

Markets can generate substantial wealth for knowledgeable investors. NOW YOU TOO CAN ALSO SPECTACULARLY SUCCEED AT MEETING YOUR GOALS WITH THE HELP OF THE ARORA REPORT. You are receiving less than 1% of the content from our paid services. …TO RECEIVE REMAINING 99%, INCLUDING MANY ATTRACTIVE INVESTMENT OPPORTUNITIES AND SIGNALS IN REAL TIME, TAKE A FREE
TRIAL TO PAID SERVICES.

The Arora Report is one of the only major global investment newsletters that does not employ a single salesperson—because it does not need to. While competitors rely on high-pressure sales tactics, The Arora Report grows purely through results, with satisfied members recommending it to their family and friends.

Join the service that investors trust the most and recommend to family and friends.

Please click here to take advantage of a FREE 30 day trial.

Nigam Arora

Nigam Arora is known for his accurate stock market calls. Nigam is a distinguished master of the macro. He is a popular columnist with over 100 million page views, an engineer, and nuclear physicist by background. Nigam has founded two Inc. 500 fastest growing companies and has been involved in over 50 entrepreneurial ventures. He is the developer of Theory ZYX of Successful Change Management and is the author of the book on Theory ZYX, as well as the developer of the ZYX Change Method for Investing.