$NVDA DCS Chart - After pointing to critical support on NVIDIA, over the weekend [link], it continues to struggle at the Oct. '25 highs, and the channel that it was trading in is also broken, so the $NVDA bulls have a lot to prove going forward.
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From bad to worse:
$MAGS is lagging. Meanwhile $FNGS is printing new highs — but take a peek under the hood. They need $DELL up 40% in a day to keep the scoreboard looking pretty. That's not breadth. That's a magic trick. And carrying most of the weight? Apple. Buffett's favorite. Still a phone manufacturer, last time I checked — but I digress.
Now for the part I called:
While several Mag7 names sat on the bench, the dash for trash arrived right on schedule:
- Dollar Tree (DLTR): +16.8% to +18% — beat EPS handily, raised full-year guidance
- Kohl's (KSS): +15% to +20% — smallest comp-sales drop in four years, strong beat
- Best Buy (BBY): +8.4% to +16% — earnings beat, reaffirmed FY guidance, same-store sales +2%
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| $RETL Alert Tweeted |
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| Trading rather flat this morning - not off to the races. |
Another WIN: $IBM rallied to the target I laid out on April Dissecting Semiconductors + One Hyperscaler Quietly Sitting on the Launchpad
hyperscaler $IBM takes out the target - dump it
— Veteran Market Timer (@3Xtraders) May 27, 2026
$TRAN also bounced back, with junk retailers - as predicted - but most other sectors are dead. They used to call the market "bifurcated", but even that word fails to capture the broken state of the market.
What is soaring? Mostly trash, but also some good stocks like $DELL, but even Dell is moving in hyperbolically, irrational, unsustainable moves, designed to squeeze any would-be short sellers straight into the Summer break. Some of the accentuated movement we've seen lately can be attributed to algo buying, but there is only 1 reason you drive the price action on something like Snowflake up 30% in a day, and Valuation isn't one of them. 😅
The tell nobody wants to talk about.
Goldman just raised their year-end S&P target to 8,000. Sounds bullish, right? Wrong. Walk the breadcrumbs: 7,000 → 7,500 → 8,000. That's a victory lap. And in my experience, when the big boys start publicly patting themselves on the back, they're also quietly telegraphing the exit.
Watched a Bloomberg talking head run the same playbook yesterday.
Some will say it's different this time — AI is a game changer, blah blah. Nothing new under the sun. We've seen this movie. We know how it ends..
P.S. RE: Trump Accounts (AKA Baby IRAs). Considering the fact that the market is trading at 100-year-highs, and you have until Dec. '28 to accept the government seed money ($1000). Personally I would wait for a nasty correction, before taking the offer.
But If you still think your baby is going to get rich investing in a government program, I have another bridge for sale in Chicago.
Seriously though - here's a good article on the plan from Motley Fool - linked below.
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Link to article @ fool.com |
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