We're beginning to see the first meaningful signs of market pressure extending beyond the technology sector as more stocks succumb to the stealth correction. Many of the market's strongest leaders have rapidly become its weakest performers. $SNDK is now down 43% from its high reached just 14 trading days ago, $SPCX has declined more than 45% and continues to accelerate lower this morning, $GLW has surrendered over 40%, and $NFLX has officially become a 50/80 stock, falling more than 50% from its peak. Our $CELC Short Alert on 7/13 proved to be timely.
Some of our strongest performers still holding up well with double-digit gains include: $MATX, $PACS, $CRWD, $MNST, $ADM (which we bumped up yesterday).
Despite the growing weakness beneath the surface, our Open Positions continue to show relative strength, with several names still posting double-digit gains and holding up well. New positions should be given enough room to fluctuate normally, but don't let complacency creep into profitable trades. I wouldn't indiscriminately head for the exits, but this is an environment where tightening stops, protecting gains, and managing risk become increasingly important.
Geopolitical uncertainty is adding another layer of complexity. The conflict between the United States and Iran has expanded beyond strictly military targets, fueling concerns that hostilities could escalate into a broader regional war. With no agreement reached regarding the Strait of Hormuz, the market remains sensitive to the possibility of energy supply disruptions and a renewed inflationary impulse.
One encouraging development is that, despite the recent surge, crude oil remains well below its prior highs. We've seen Middle East headlines create sharp swings in sentiment before, yet quality leadership stocks have generally continued to act well. That remains the key. As long as leading stocks continue to build constructive patterns and respect support, the market deserves the benefit of the doubt.
A meaningful deterioration in leadership or a decisive change in price and volume character would warrant a more defensive posture.
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Let’s zoooooom in on the all-new A321XLR with the United Elevated interior:
✨ Lie-flat United Polaris business class seats with all-aisle access
💺United Premium Plus seats with a retractable divider (for the first time on a single-aisle plane 💅)
💪 A row in Economy Plus will have open middle seats, with a custom-designed table that stretches from armrest to armrest, so you get extra elbow room
📺 The biggest economy seatback screens in the world 🔋 Multiple chargers at every seat
🍪 Self-serve snack bar in United Economy
🛜 The fastest, most reliable Wi-Fi in the sky, free for MileagePlus members
@optimum@OptimumHelp we have service outages for 3 days now since the windstorm in Elizabeth NJ area. Optimum repair staff must be sleeping because my neighbor is watching all Fifa games via his Verizon Fios service coming from same pole. I confirmed with him. His FiOS service is operating normal.
Joe Biden on Trump:
"Trump has made billions of dollars since returning to the White House. It's simply stunning to me. He has no shame, and frankly it's embarrassing for the country.
But Trump couldn't care less. Making money off the presidency is one of the reasons he wants to be president."
The S&P 500 gained 10.7% through the first five months of 2026, putting it on pace for a 15%+ gain for a fourth year in a row. The only other time the benchmark achieved the feat was the five-year streak from 1995-99.
The longer the rally continues, the more it resembles the late-1990s bull. Both were fueled by a revolutionary technology that triggered capex spending and productivity gains.
There are key differences, including demographics, consumer sentiment, and geopolitics, just to name a few.
While the debate over how well the current market fits the 1990s analog is fascinating, the relevant question here is whether the current rally will come to an end.
Two triggers of the 2000 bear market – rising inflation and technical divergences – are in play but not at bull-breaking levels currently.
The S&P 500 roughly followed its midterm year average pattern through February before diverging during the March selloff and April-May rebound (chart). Events in the Middle East likely brought some of the typical midterm year weakness forward.
History suggests additional weakness is possible, especially late in Q3 amid election angst. As the outcome has becomes less uncertain, the market has tended to enter a year-end rally. Point-to-point, the S&P 500 has risen 4.7% in the second half of midterm years, on average, which is the final input into our S&P target.
Given the historically overbought condition of the Technology sector, a Tech-led mean-reversion pullback could align with the midterm pattern however, midterm years often end on a high note.
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There were massive international protests over George Floyd and those police involved were severely punished with long prison sentences, yet the police responsible here did not even lose their jobs!
An incredibly unjust double-standard!
NEWS: Senior Government Members Lie About Starlink in South Africa
Parliamentary chair Khusela Diko claims Starlink’s FREE high-speed internet for 5,000 rural schools “brings nothing to the table” and “won’t move the needle an inch.”
The Truth: Starlink is putting up R500 million of its own cash for zero-cost kits, lightning-fast internet, and full maintenance, forever.
This connects 2.4 million rural kids in deep countryside areas where cables and towers can’t reach. Kids get online classes, free learning videos, homework help, and real skills for the future. Teachers access better resources. Entire villages finally join the digital world, boosting education, jobs, and hope where it’s needed most.
@elonmusk is stepping up with real help for free while politicians downplay it. Stop the lies — approve Starlink NOW!
Javier Milei: “No tengo nada en contra de los artistas. Yo mismo tuve una banda de rock. Mi problema es que si necesitas una subvención del gobierno para hacer arte, ya no eres un artista, eres un empleado público.”
Milei es un número uno.
https://t.co/SQeY55YZjZ
🚨 PAKISTAN GIVING BELT TREATMENT TO ISRAEL ONCE AGAIN 🚨
The 🇵🇰 Pakistani ambassador, addressing the UN General Assembly said, "ISRAEL 🇮🇱 is an AGGRESSOR, OCCUPIER, SERIAL VIOLATOR and a ROGUE state that PLAYS the VICTIM, violates UN resolutions, and PRACTICES STATE TERRORISM in Gaza and even in Palestinian territories."