Technical Deterioration: Risk Management Is Key
The S&P 500 closed at 6,740 on Friday, its lowest level since mid-December, as technical deterioration, collapsing payrolls, and $100 oil converged on the charts. Every major moving average has broken. Here’s what comes next. The S&P 500 closed at […]
SaaS: Is There Opportunity In The Destruction?
A specter is haunting Wall Street—the specter of the “SaaSpocalypse.” Since the iShares Expanded Tech-Software Sector ETF (IGV) peaked on September 19, 2025, it has fallen roughly 30%. For context, the broad technology indexes like XLK and QQQ are essentially […]
Is China Really Dumping US Treasuries?
“China is dumping US Treasuries to get out of the dollar.” This claim has been circulating the mainstream feeds lately, with the narrative that the “end of the dollar is near,” or “the US will lose its funding base” and […]
Market Sector Review: Extreme Market Bifurcation
Since the beginning of the year, we have discussed the “reflation trade” and its impact on specific market sectors. This past weekend’s newsletter also showed some of these more extreme returns in various market sectors since the beginning of the […]
Financial Nihilism & The Trap Young Investors Are Walking Into
A funny thing about bull markets is that investors develop a very short memory about the previous bear market. Such is why cycles repeat throughout history as lessons must be learned and relearned.
Speculative Narrative Unwinds
For nearly two years, markets were driven by the same speculative narrative that “this time is different.” Bitcoin, precious metals, and AI-linked equities rose not only because of robust fundamentals, but also because investors clung to powerful narratives about inflation, […]
The Market Cycles Potentially Driving 2026 Returns
Market cycles are once again at the center of the investment narrative as we head into 2026. The optimism is familiar as earnings held up in 2025, the economy avoided recession, and big tech lifted the indexes. However, those victories […]
The Bullish And Bearish Case For 2026
A funny thing about bull markets is that investors develop a very short memory about the previous bear market. Such is why cycles repeat throughout history as lessons must be learned and relearned.
The South Park Market Of 2026
I have been a “South Park” fan for as long as I can remember, and while the show isn’t a market guidebook, its brutal satire cuts through nonsense better than many Wall Street commentaries. Just like on the show, characters […]