Still travelling. Now in Malaga. No thoughts for the weekend. Back next week

No thoughts for the weekend. Still travelling

Traveling, no "thoughts for the weekend". Sorry.

5 of 5 thoughts for the weekend A-D Lines are close to their ATHs

4 of 5 thoughts for the weekend What a TACO looks like #Liquidity

3 of 5 thoughts for the weekend The real TACO emergency

2 of 5 thoughts for the weekend As risk appetite have turned risk-on, the markets have retuend to the Sell America trade again

1 of 5 thoughts for the weekend Time for a breather? 1) $SPX at top end of upper BB 2) 5-day RSI overbought 3) $VIX at bottom end of lower BB

$SPX upside breakout through falling trend line held for a 2nd day. Key is whether $VVIX can get below 100

5 of 5 thoughts for the weekend Eyes of the beholder: I know that there are lots of concerns about a supply shock induced market downdraft, but why are cyclicals behaving so well?

3 of 5 thoughts for the weekend Eyes of the beholder: Equity put/call ratio, recent peak higher than "Liberation Day" bottom $CPCE

2 of 5 thoughts for the weekend Total put/call ratio, panicked enough compared to the "Liberation Day" bottom? $CPC

1 of 5 thoughts for the long weekend (retired, but still can't stay away) An eyes of the beholder weekend: Watch the $NDX, which is dragging down the $SPX while broader indices have rallied through the falling trend line.

4 of 5 thoughts for the weekend $SPX forward P/E now between its 5 and 10 year averages

I went for an evening walk and saw a sign that I should post for today

5 of 5 thoughts for the weekend I'm old enough to remember the jitters over private credit. Indicators of credit stress are healing. $HYG $HYGH $BKLN $OWL

4 of 5 thoughts for the weekend The war has turned the Sell America trade into Buy America. USD and USTs are well bid, though $SPX vs. $ACWX has stabilized.

3 of 5 thoughts for the weekend Somebody is very wrong. $SPX skidding but forward 12m EPS is on a tear.

1 of 5 thoughts for the weekend $SPX, USTs, volatility (especially $MOVE) are all screaming TACO Here's a possible path for opening the SoH from Retired Rear Admiral Mark Montgomery. Hunt down enough launchers and then start escorts. podcast.silverado.org/e/how-to-reo...

2 of 5 thoughts for the weekend Why TACO? Ds expected to win the House, and betting odds on the Senate amount to a coin flip.

This may be my final "thoughts for the weekend" I'll be retiring and spending my days fahter-daughter bonding over Baldur's Gate and Crusader Kings

5 of 5 thoughts for the weekend Fear & Greed Index

4 of 5 thoughts for the weekend Fearful enough? 10 dma of CBOE put/call ratio

3 of 5 thoughts for the weekend The Zweig Breadth Thrust Indicator is back in oversold territory Red lines = ZBT oversold Dotted blue lines = ZBT buy signal

1 of 5 thoughts for the weekend The TALO (Trump Always Lashes Out) and TACO (Trump Always Chickens Out) dashboard Implied vol ($VIX, $MOVE) firmly in the TACO zone

2 of 5 thoughts for the weekend US is not the safe haven trade. Sell America has become Buy America

5 of 5 thoughts for the weekend The Zweig Breadth Thrust Indicator is oversold. Pink lines show past instances when it was oversold. Dotted blue lines are ZBT buy signals. I am not holding my breath for a buy signal, but a bounce is highly likely.

4 of 5 thoughts for the weekend Why the latest spike in Brent oil is different from the June spike. The YoY change in June was negative, it's hugely positive today. The current YoY change far exceeds the spring/summer 2024 when Trump skillfully attacked Biden on "affordability".

3 of 5 thoughts for the weekend $XLF breaking absolute and relative support, but relative breadth (bottom 2 panels) are improving

2 of 5 thoughts for the weekend Gulf War III has turned the Sell America trade into Buy America as the US has become the safe haven

1 of 5 thoughts for the weekend Equity averages are starting to break down through resistance, but Monday's outside day reversals are still holding up (relatively) well. $SPX $NDX

Whoa! Is it TACO time?

Third consecutive day that gasoline prices are above $3.50

5 of 5 thoughts for the weekend Why this oil price spike is nothing like June: 1) June YoY increase was negative, now positive 2) Current YoY increase higher than level seen in spring/summer 2024, when Biden got into political trouble over #affordability Time to TACO?

4 of 5 thoughts for the weekend $GLD hasn't seen this level of panic outflows since 2016 #sentiment

3 of 5 thoughts for the weekend $GDX now on rising trend line support

2 of 5 thoughts for the weekend $SPX forward P/E now down to 20.9 after Friday's downdraft. Is that cheap enough?

1 of 5 thoughts for the weekend All major US indices are breaking down out of their trading ranges, except for $NDX

5 of 5 thoughts for the weekend For the past few weeks I've warned about the elevated readings of NYSE High Low Logic, which indicates a bifurcated market, much like the #HindenburgOmen. Will the #Iran war be the trigger for a correction?

4 of 5 thoughts for the weekend Equity risk appetite factors look a little wobbly here

3 of 5 thoughts for the weekend The combination of sideways $SPX price movement and rising EPS estimates means that forward P/E has fallen to 21.5. Less stratospheric but still elevated.

2 of 5 thoughts for the weekend $SPX forward 12m EPS estimates are rising strongly

1 of 5 thoughts for the weekend Major US averages have been range bound, except EW $SPX is in an uptrend. Though $IWM violated a rising trend line but range bound.

5 of 5 thoughts for the weekend If you thought small caps represent the new leadership, here's a warning. The $SML is exhibiting a negative divergence against its A-D Line.

4 of 5 thoughts for the weekend Beware! The market is still highly bifurcated

3 of 5 thoughts for the weekend Software stocks are still weak, and technology is testing a key relative support level. $IGV

2 of 5 thoughts for the weekend Our #TradeWar factor barely budged in response to the #IEEPA decision

1 of 5 thoughts for the weekend Did you notice the market reaction to the #SCOTUS #IEEPA ruling? $SPX was up less than 1% and $VVIX remains above 100, indicating continued anxiety.

5 of 5 thoughts for the weekend Meanwhile, consumer staples are surging, highly extended, while exhibiting "good" overbought conditions. $XLP

4 of 5 thoughts for the weekend $NDX has further potential downside risk relative to $SPX Not oversold yet