States the market strength has been fantastic over the past 11 days and believes it can continue as tail risks have been removed.

Markets are refocusing on what's going right: AI-driven productivity expectations are cementing, financial conditions are more stable, and the labor market is stronger than anticipated.

Acknowledges risks haven't gone away but tail risks have significantly diminished; believes the tide has turned and the positive trend has reasserted itself.

It would take a big shift for market dynamics to turn back around; the market is correctly focusing on what's going right as major longer-term energy disruption concerns look less likely.

Believes tech will continue to reassert leadership, being the primary driver of productivity gains that will be broad-based throughout the economy.

Whether semiconductors or other technology areas, tech facilitates economic gains.

Thinks a bottom is probably in for software, and it's now a sorting process to see which companies can implement AI to deliver value clients want.

Software company valuations are much more reasonable than a few months ago.