We are on the cusp of a total transformation of how the world looks and feels. I don't think people are truly ready for just how unbelievably fast this technological wave will rip through the world. There's a reason why everything feels weird right now. It's about to get real.

We are officially witnessing the biggest wave of infrastructure investment in modern US history. Total investment in data centers and AI infrastructure is projected to average 3.63% of US GDP per year from 2025 to 2032, the highest proportion among major infrastructure buildouts since the 1800s. The previous largest investment, railroad infrastructure, represented 2.24% of GDP per year in 1870-1890. This was followed by highway investment that averaged 1.13% of GDP in 1956-1973, while telecommunications and fiber infrastructure averaged 1.10% in 1996-2003. By comparison, electrification stood at just 0.50% of GDP in 1905-1925, while canal investment accounted for 0.66% in 1836-1841. This comes as AI and data-center infrastructure investment is projected to total ~$10.3 trillion between 2025 and 2032. The AI buildout is the largest infrastructure investment in modern US history.

We are pleased to announce that you can now track and interact with your StonkBrokers Smart LP positions on Robinhood Chain in real time, directly via the @Rabby_io wallet iOS/Android interface under the DeFi section. StockFi infrastructure becoming easier to access every day.

We are indeed seeing 10y yield increases consistent with what happened during/after Liberation Day, but a key difference today (for now) is that the dollar (red line) is moving higher

We are seeing a market that, on the surface, appears to be moving into a Confirmed Uptrend, with several major indexes breaking out or moving to new highs. However, the underlying evidence is far less convincing. What is missing is a bona fide follow-through day—a strong advance of 1% or more on increased volume—accompanied by broad participation and a plentiful number of individual stocks breaking out and following through successfully. Without that confirmation, we view the action with a degree of suspicion. The market remains severely bifurcated. Small caps, represented by the Russell 2000 (IWM), remain near their lows, while the Dow and many economically sensitive cyclical stocks continue to lag. The real strength is concentrated in the mega-cap stocks that dominate the capitalization-weighted S&P 500 and Nasdaq, along with heavily weighted indexes such as the QQQ and FNGS. This kind of narrow leadership is more characteristic of a difficult, volatile, potentially late-stage environment than a healthy, broadly advancing market. Rising interest rates and elevated oil prices provide additional headwinds, and we are still in September, historically a challenging period for equities. Sentiment isn't providing much clarity either. Some measures are registering meaningful fear and bearishness, while others are closer to elevated levels of bullishness. In other words, the mixed picture in the indexes is also being reflected in sentiment. When the evidence is this conflicted, we drill down to what ultimately matters most: the individual stocks. If quality stocks are breaking out, following through, and rewarding us for taking risk, we participate. If they aren't, we stay defensive. Right now, the evidence at the individual-stock level is also mixed and lacking and does not provide the type of confirmation that would justify aggressive exposure. For now, we remain in a cautious, prove-it-to-me posture—taking selected opportunities where they present themselves, keeping risk tightly controlled, maintaining hedges, and allowing the market and our individual positions to earn our way into greater exposure. Become a Minervini Private Access member today and get the Minervini Markets 360 platform included.