Daily State of the Markets
Bulls Refuse To Yield
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State of the Markets — Third Quarter 2026
QUARTERLY REVIEW
New Highs, Narrow Breadth, and a Market That Refused to Break
Third Quarter 2026 · The State of the Markets
Where Are We Now?
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With the dog days of summer officially upon us, I thought it might be a good time to take a look at where we are in the stock market right now.
The Good News
Although there are an abundance of moving parts and volatility amongst individual stocks…
Constructive Resilience
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The stock market continues to display the kind of constructive resilience that has defined this bull market for some time now. While the headlines may focus on the latest sector rotation and geopolitical noise, the bigger picture remains one of a fundamentally sound economy, strong corpor…
One Chart Explains It All
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Investors can't really be blamed for scratching their heads regarding the recent action in the stock market. One minute, stocks were down -10% on all things Iran. The quick dip certainly made some sense as oil prices surged, taking inflation expectations higher along with them. In turn, t…
One Chart Explains It All
By:
Investors can't really be blamed for scratching their heads regarding the recent action in the stock market. One minute, stocks were down -10% on all things Iran. The quick dip certainly made some sense as oil prices surged, taking inflation expectations higher along with them. In turn, t…
Giving Peace A Chance
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The current market remains driven by the headlines relating to the conflict playing out in the Middle East. To be sure, traders have shifted their focus from selling AI-related technology/software positions to what I'll call the "war playbook."
It will suffice to say this is not t…
The State of the Rotation Trade
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Unless you've been living in a cave, you are likely aware that the "Rotation Trade" has been the toast of the town this year. Apparently the powers that be decided that the stock market was going to look a lot different in 2026 than it has over the last several years. You know, where comp…
The New Fear Trade
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Don't look now fans but there is a new "fear trade" in town. You remember how these work, right? To review, a fear trade starts with traders shouting their negative narratives from the rooftops while shorting stocks at the same time. "The sky is falling!" they proclaim. "The mar…
CEOs vs Trader Bros
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Perhaps the biggest story in the market over the last couple months has been the mean reversion/catch-up/rotation trade between the market's "haves" (megacap tech) and "have nots" (small caps, cyclicals, value, etc). The idea behind the move is simple enough. When one segment of the marke…
