On one hand they say AI is an overbuilt bubble with no use cases, then on the other they say AI will wipe out any incumbent software or service.  The last couple of days we've watched SPGI (financial reporting), MRSH (insurance), SCHW (finance), and of course the months of software beatings (NOW) due to AI fears.  Simply crazy moves

I get why there is a run to safety, but I don't see how the move into XLP is sustainable.  It's not like the earnings growth, which fuels returns, has magically increased for the staples.  They have low to mid-single digit growth!  Growth stocks will eventually be back.

Double top or back test?

https://schrts.co/UyIgAXvK

I don't hear anyone talking about this besides on here.  Could catch a lot of people off guard as the narrative is rates are going lower.

MSCI weekly coil - Matt likes coils, well, here's a 4-year one worth watching!

https://schrts.co/BuFvrwUe

CRM daily looks to be clearing a base.

https://schrts.co/bAyiyaVd

Weekly 10-year coil, with possible 5 waves within it. 

Interesting that the 60 STO has dropped below 50 for the first time since April.  Perhaps a longer correction that takes us to the 38% fib?

Nice summary!

IREN is like CRWV, but with its own gigawatts.  Gigawatts are the new gold rush.  Even crappy AES is getting bought for their GW.  Imagine with IREN will be worth as it signs deals, is it worth more or less than CRWV that has minimal GW locked in?

They are a variable monthly payer.  The Aug distribution was nuts! 

https://seekingalpha.com/news/4477350-bitcoin-strategy-etf-declares-monthly-distribution-of-12080

I've held my small BITO position since the monthly distributions have been crazy good

GPN - Matt, would you take a look at this potential bottoming play on a daily/weekly basis.  Could be a candidate for a reversion to mean on a valuation basis as it has been hated for some time.  Their growth projections and thesis seem to be intact.  6.5x forward PE with consensus 12.5% growth provides room for reversion. Much appreciated.

I find it interesting that the Fed is worried about price inflation from tarrifs.  Wouldn't that reduce demand, resulting in a weaker econcomy?  That would make the case to lower rates IMO.  I don't see how higher prices would raise demand causing prices to rise even further they way they did during the post-covid free money dump.  Ultimately, resolution of the coil on the TNX weekly chart will likely set the next trend in rates.

PS, long time member, your work here is wonderful, thank you!

Nice chart!  The Covid and Tariff drops are but blips on the chart.  Interesting that maybe there is Wave 1 from the Depression, Wave 2 in the 70s bear, Wave 3 up to 2000, Wave 4 the 2000s bear and now we are in Wave 5?  I guess I should be rooting for bond yields to get to 7% so I can lock them in before the next bear !!

It called the top nicely.  Let's hope for waves B and C to complete Wave 4 with that next cycle peak providing the rally launch point to new highs!

Matt,  I use your SPX weekly chart map as a guide since I'm not a trader.   With the ferocity of this decline and the seemingly long term nature of the tariffs, I'm wondering if that is no longer valid.  What would confirm this and do you have any opinion whether the 15 year bull is done (granted this could all go away in a day and we v-move up).  

Inverse Cramer wins again!  While not exactly a winner of a day, it wasn't 1987 a Jimmy C called for over the weekend!

TNX looks like 5 waves down from the 4.8 high with MACD divergence

LOL, this is great Steve.  You and Matt should put together a top 10 that we can stick by our monitors.