Table of Contents:
1) Growing Enterprise resistance to higher AI pricing raises serious questions about the industry’s enormous ROI expectations.
2) Significant technical breakdowns in the chips, major tech ETF’s & two key stocks are raising major warning flags.
3) South Korea’s KOSPI sent up another important warning signal last week.
4) Credit market conditions continue to flash significant warning signs.
5) The charts on the major averages suggest that the risk of a much deeper pullback in the stock market is quite possible.
6) Strong earnings, economic resilience, sector rotation, and favorable seasonal trends could fuel another rally.
7) Crude oil at a key support level…and natural gas has some material upside potential. That’s good for the energy sector.
8) Despite the recent bounce in the group, the housing industry faces growing headwinds.
9) Potpourri…..A few additional market observations.
10) Summary of our current stance….. An Important Top in the Stock Market Appears to Be In Place