The Worm has Turned.

Musk’s antics have pushed back any kind of good economy that Trump might have thought de-regulation and tax cuts would create. Now, with markets entering into an AI Hype dry period I am looking at things more from a big picture standpoint. There could be a rally later in the year, but we have had to push back our projections.

For that here is a Macro chart of what I call the Big Eight, an equally weighted index comprised of SPX + NDQ + RUT +DJI + DJT + IXIC + NVDA +Bitcoin. It is currently sitting just above a 920.0 support level. It will be important for this support level to hold into the next week or so, or we are looking at something like September 2024 levels of maybe 5590 on the S&P and 54,000 on Bitcoin.