[Chart courtesy of MarketWatch.com]
- Moving the market
Stocks found their footing today, helped by a sharp drop in oil prices and a rebound in beaten-down chip names.
After last week’s AI-induced turbulence, buyers stepped back in, but the mood was more cautious optimism than all-clear celebration.
The biggest story wasn’t the bounce itself, but the questions hanging over AI. Between political concerns about future regulations and the surprise investigation involving NvidiaCEO Jensen Huang, investors suddenly have more to think about than just the next earnings beat.
Nvidia took a hit, yet the broader tech sector managed to stabilize as traders appeared to conclude that last week’s selling may have gone a bit too far.
Elsewhere, gold blasted back above $4,100, silver and copper joined the move, bond yields ticked higher, and the dollar eased.
Bitcoin, meanwhile, seemed determined to spend the weekend doing absolutely nothing, making it the financial equivalent of a teenager asked to clean the garage.
Now all eyes turn to tomorrow’s CPI report and CoreWeave’s earnings. With inflation data and AI sentiment both in play, will the market get the confirmation it wants, or another reason to keep volatility on speed dial?
2. Current domestic “Buy” Cycle (effective 5/20/2025); International “Buy” Cycle (effective 5/8/25)
Our domestic bullish cycle that began on November 21, 2023, concluded on April 3, 2025, following a market downturn triggered by President Trump’s tariff policy announcement.
This development caused significant declines across major indexes and broader market indices. However, markets subsequently rebounded, culminating in a new domestic “Buy” signal taking effect May 20, 2025.
Concurrently, our International Trend Tracking Index (TTI) experienced parallel volatility. On April 4, 2025, it breached critical thresholds, prompting a “Sell” recommendation. This position reversed as global markets recovered, with the International TTI regaining sufficient momentum to issue a new “Buy” signal effective May 8, 2025.
3. Trend Tracking Indexes (TTIs)
The market came in with a spring in its step today and never really looked back.
The major indexes surged from the opening bell and kept climbing, while precious metals happily tagged along for the ride. It was one of those sessions where optimism seemed to be the most popular asset class.
Our TTIs were right there with the market, both posting strong gains. Even better, the rally was broad-based rather than another tech-only show, which is usually a healthier sign.
In other words, more stocks were invited to the party today, and most of them showed up.
This is how we closed 11/09/2026:
Domestic TTI: +6.46% above its M/A (prior close +4.06%)—Buy signal effective 5/20/25.
International TTI: +3.83% above its M/A (prior close +1.74%)—Buy signal effective 5/8/25.
All linked charts above are courtesy of Bloomberg via ZeroHedge.
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