Subscribers entered longs last Wednesday and Thursday. We shorted oil last Wednesday. So a pretty good week! From here I am sticking with my general thoughts from last week — another new high for SPY and QQQ followed by another decline. The decline is likely to be a bit scary again, just as the last one was. Might make a higher low, might sweep last week’s low. Some of that depends on how high SPY gets first. Here’s the chart.

The unweighted S&P 500 and the Russell 2000 have already made new highs, proving the hypothesis from last week that participation is broadening out. The winners of the March /April rally likely will not be the bigger winners over the next few weeks at least. One sector I really like is biotech / health sciences. I am long the bio science ETF symbol ARKG from 32.65. This stock was as high as 35.70 on Tuesday, closing 34.90. This ETF is going to be one to watch going forward in 2026. Overall new highs in SPY, take profits if long, Then wait for the next dip to buy again. 

Thanks,

Joe