April 24, 2026

Commodities & Energy ~ Oil Going Higher

By Terence W. Brogan

The two major trades are AI (Everything is Awesome!) & Energy/Commodities/Inflation (Everything is NOT Awesome!). The AI trade has gone ballistic beyond reality, now it’s time to switch gears and get back to reality with…

Read More >>

April 23, 2026

Money Flow Negative Divergence ~ Yields Poised to Go Higher

By Terence W. Brogan

After this record-breaking rally over the past 16 trading days our Money Flow Model is still deeply Bearish, and our high frequency Money Flows are still recording blatant negative divergence. This set up tells me…

Read More >>

April 22, 2026

Relative Performance Sell Signal Triggered ~ EU, EAFE, International & Buy USA

By Terence W. Brogan

Last Friday we issued a Sell Signal on our Relative Performance Breadth of Small & Mid-Caps versus Large Caps here in the USA. Well, today we are looking around the world for Relative Performance Sell…

Read More >>

April 21, 2026

Semi’s & Software Relative Performance Spread Extreme

By Terence W. Brogan

Today we are going to look at the Relative Performance Breadth of the two most important industry groups in the stock market today, Semiconductors versus Software. What we can see is Semis are the strongest…

Read More >>

April 20, 2026

Money Flow Model Still Negative

By Terence W. Brogan

Over the past two months we have seen more volatility in our Money Flow Model than we have ever seen in 32-year history of the data series. The Model turned Bearish April 2nd and then…

Read More >>

April 17, 2026

Large, Mid & Small Cap ~ Money Flow & Relative Performance Breadth

By Terence W. Brogan

Our Money Flow Model turned Bearish March 31st moving us back to a defensive, non-cyclical position and will be in that position until our model turns positive again. Today we want to look at our…

Read More >>

April 16, 2026

Short Interest Persistently Rising

By Terence W. Brogan

Below are charts of the % S&P500 Stocks with Short Interest greater than 10 million and less than 10 million shares borrowed (inverted). I saw a chart of IGV on X with short interest at…

Read More >>

April 15, 2026

Liquidity Diminishing

By Terence W. Brogan

Today we are showing the Money Flow Model again because we cannot ignore the significant negative divergence (model lower highs as market makes higher highs). Our Money Flow Model is a measure of the closing…

Read More >>

April 14, 2026

Cyclicals ~ Bearish Counter-Trend ; Non-Cyclical ~ Bullish Counter-Tend ; Yields ~ Bullish Counter-Trend

By Terence W. Brogan

Today we want to look at the relative performance ratio of our Cyclicals Index versus our Non-Cyclcial index as we continue to record counter-trend divergence that we believe will lead to a regression to the…

Read More >>

April 13, 2026

Money Flow Model Negative ~ Recommending Defensive/Non-Cyclical Positioning

By Terence W. Brogan

Today we wanted to show our Money Flow Model as it is still negative, turning negative March 31st. Since the turning back to a negative position, we are now back in our Non-Cyclcial, Defensive, Low…

Read More >>