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April CPI came in hotter than expected, which is another sign that inflation pressures are not easing as quickly as the market hoped. Here are the key numbers: • Headline CPI rose 0.6% in April• Year-over-year inflation increased to 3.8%• Core CPI, which excludes food and energy, rose 0.4% for the month and 2.8% annually• […]

Last week we flagged as a potential top for the market, and this is going to be a critical week to see if that call plays out. From a technical standpoint the market is into stretched territory. When you combine that with what we’re seeing under the surface, there are real reasons to be cautious […]

It appears a market top is beginning to take shape. We are seeing signs of this in banks, semiconductors, and now increasingly within the Nasdaq. Today I want to focus on the Nasdaq through the lens of the Technology Select Sector SPDR Fund (XLK). The Nasdaq looks like it is running on borrowed time as […]

I’ve traded through plenty of blow-off tops over the past 25+ years, but what we’re seeing right now ranks near the top. The Nasdaq and VTI setups I discussed yesterday continue to unfold, and it appears we are in a wave 5 of 5, lining up directly with a critical time window. Across tech and […]

We’re getting close to a key moment in the market. Looking at several major indexes, we could see even more divergence develop this week, particularly in the Nasdaq. That’s something I’m watching closely. Let’s start with the Vanguard Total Stock Market ETF (VTI)… Price is approaching a clear resistance level marked by the black dotted […]