Still favoring bull-market continuation based on relatively youthful momentum regime. #WatchingPaintDry

Failed bottoming process? #$TNX

Energized. #$XLE

1/ Bears have more proving to do, as no cyclical top since 1990 has occurred in absence of NYSE new lows >4% of total issues. My 10-day average is meant to reduce false signals from the Vince/Williams “bloodbath sidestepping” rule described here: tinyurl.com/6tjt3567

Here we go again. #$TNX

Bear flag. #$SLV

Don't neglect the X-axis. #$BTC

Retest of breakout area near 315 is now plausible.

⚠️ Fraud alert. I don't make solicitations. Be wary of scam offerings in any form. Recent example below.

GLD structural advance remains intact. Watching P&F buildout for next directional clue.

Mid-week humor

SOXX change of character?

Around the world in fiscal defecits.

TNX to Warsh: Trump is not your only constituent.

Riding the rail.

U.S. scrip brinkmanship.

Bitcoin is testing weekly support near 78K.

H/t @TPMRSignals

Stranger things have happened. H/t @alphacharts

Silver resembles Jan 1980 on an intra-day basis. –Trivia Dept.

Ditto weekly volume.

All eyes on the Fed? Or all eyes on crude oil?

There is no training, classroom or otherwise, that can prepare for trading the last third of a move, whether it’s the end of a bull market or the end of a bear market. –Paul Tudor Jones

Still favoring bull-market continuation based on relatively youthful momentum regime. Don’t confuse the top of the chart with resistance.

Sox versus rocks?

That escalated quickly.

Worth noting that gold and silver aren’t necessarily tied at the hip.

Follow the leader. #SOXX

Mid-week humor

Chips have further upside by this reckoning. Post-breakout dips have been limited to 2 days. Different this time?

SLV is generating outsized volume reminiscent of April 2011. Don't shoot the messenger.

Here we go again.

Time for a pause? #Silver #SLV

For those interested in quarterly earnings, here are Mag-7 report dates: Jan-28: MSFT, META, TSLA Jan-29: AAPL Feb-4: GOOGL Feb-5: AMZN Feb-25: NVDA These tickers comprise 35% of SPX market cap.

Whether SPX is topping or consolidating is an open question, at least by this reckoning.

es, silver is parabolic. But let's not sensationalize. 🙄

Boy who cried wolf: What could go wrong?

Chuck the buck? H/t @TechCharts

Perhaps worth noting that today’s small-versus-large reversal has also echoed post-LTCM behavior. 🤔

SPX is tracking its post-LTCM trajectory. H/t @TimmerFidelity

Is big tech doomed to further underperformance? It will be interesting to watch the market’s reaction to forthcoming earnings reports now that everyone has received the Lag-7 memo.

Was Tuesday’s Greenland Gripe a microcosm of last year’s Tariff Tantrum? Time will tell. The bullish case from a pattern perspective is further high-level consolidation followed by upside breakout. A move below the HLC range would damage the case.

Mid-week humor

Gold/SPX measures confidence in the institutions of money & credit by comparing the senior monetary asset to the residual claim in the capital structure. Why is gold the senior monetary asset? Because it’s the only asset held by central banks that isn’t someone else’s liability.

SPX lower low following breakout attempt is not the picture of health.

“Goodbye, Mr. Bond.” –Auric Goldfinger

The European financial sector has a healthier relative-strength profile that its U.S. counterpart. Thank you, Captain Obvious?

Small-cap dominance is not yet a global phenomenon.

Gold stairstep ascent.

Who knew? 🤪