In stock pot, heat oil and add chopped onions and green pepper and cook until slightly tender. Add in minced garlic and cook until fragrant.
Being careful to use gloves with seeds, add in chopped jalapeno and dried ingredients (cumin, chili powder, onion powder, Italian seasoning, salt and pepper), and stir until it starts to thicken.
Pour in the stock, can of green chilis (undrained), and diced tomatoes, and placing lid on, allow to simmer for about 10 minutes, giving the flavors time to meld together, tasting and adjusting seasoning to preference.
Add heavy whipping cream, half of the cilantro and both cheeses and turning the heat to low, allow to simmer until thickened, roughly another 10 minutes, stirring often.
Remove from heat and serve with avocado slices, sour cream, and the remainder of the fresh cilantro. Enjoy!