Signs of institutional selling have also emerged beneath the surface... 

These charts drew the most attention recently...

Gold - Weak Hands Sold. Strong Hands Bought.

Software just quietly beat semis over the past 10 days. Hardly anyone noticed.

And the rocky path I think gold takes to get to $10,000...eventually.

Who else?

The tailwind is likely to be more powerful in Europe, because US companies are pivoting to massive AI capex. Nevertheless, following the end of the blackout period, execution is restarting. 

...the announcement reinforces concerns about execution missteps... 

Dollar dominance isn’t fading. In fact, the events of late April 2026 just delivered the loudest counter-signal in years...

HALEU remains the single biggest constraint for the entire advanced reactor wave...

Correlation, dispersion, volatility and gamma for US stocks all remain in a very unusual configuration, indicating market fragility...

Kremlin has instead blamed Ukraine...

Ferrari Luce may cost seven times more than Tesla’s Model S Plaid, but the comparison reveals how competitive the EV performance race has become...

"Despite the daily drumbeat of newswire headlines about an imminent Memorandum of Understanding and reopening of the Strait of Hormuz, the three-month anniversary of the Iran war was marked by yet another round of missile and drone strikes."

"...to ensure that no funds are irreversibly disbursed."
 

...high energy prices "will cause a tremendous amount of demand destruction and a recession that I think is coming anyway..."

The most important chart in rates right now isn't rates. It's oil.

The playbook for a deal is well rehearsed... The more interesting question is what to chase and fade once the initial move is in...