5/5/2026
SOX rose 4.2% today. Transports bounced off its 50 day moving average.
From the March low one can make a case that TRAN has just corrected and is still in an uptrend.
SPX
the equity charts pretty much all, TRAN excepted, look like this, over bought but still in an uptrend
Secy State delivered a press conference this afternoon and looked like a Secy of State should, unlike Trump he does not ramble or talk about himself. He made the case that Iran is at war by layng mines in an international waterway. Yes Iran has high inflation and near wrothless currency but so did Argentina for a decade. Hard to see how this ends without more fighting.
For now trends are up but extrenekt overbought.
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