4/30/2026
a front page article in today's WSJ told of the billions high tech companies plan to invest in AI. Amazon and Google soared. Meta made lots of money and dropped as did MSFT.
CAT jumped nearly 10% just today, other DOW stocks were up but this is oe of the most expensive DOW stocks so boom the DOW rises over 700 points. CAT is getting into the energy ge neration business but up is up regardless of reason.
the ten year note yield had an inside day so expect omre sideways action.
WTIC dropped about $3 but is above $100. As one who lived through the 1970s this is rather bizzare but...unlike then the US is energy independent. News reports are that Iran is out of space to store oil which means shutting in wells. As an oil field veteran nothing good happens when one shuts in a well. I have not been to the Middle East fields but they flow without mechanical assistance.
DOW has yet to take out the February high at 50,512 but it really looks like it wants to do just that. Transports were up 1.28%. I am beginning to wonder if any of the traditional rules like DOW theory still apply.
At this point I have net feeling for where the market is liable to go in the near or more distant future. One can see RSI PMO MACD are quite high but then so are the markets. No sign of turning down yet.
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