It's Finally Here

Investors,

It’s finally here, isn’t it?

Two weeks ago, I talked about a time-based capitulation.

Three weeks ago, I talked about a max pain scenario that could unfold.

Four weeks ago, I mentioned how risk assets needed to dig in at their levels.

Five weeks ago, I shared that a significant bearish divergence had formed.

And here we are…

The market had gone nowhere for 3-5 months.

Up until a few weeks ago, the S&P 500 was trading at the same levels from Oct.’25!

Now, it’s making new 6-month lows:

The selling is relatively indiscriminate, but ironically more concentrated in the themes that were the strongest during the index’s range-bound environment.

Industrials? Whacked.

Financials? Whacked.

High dividend stocks? Whacked.

Healthcare? Whacked.

Since November 2025, I’ve shared a simple conclusion from my analysis:

• I’m bearish on Bitcoin

• I’m bullish on stocks

I openly admitted that I’d be wrong on one of those assessments.

Obviously, I’ve been right about Bitcoin… so as time has gone on, I’ve objectively become increasingly concerned about equities given the lack of decisive bullishness.

Sure, concerns were popping up but the market wasn’t reacting overtly negatively to them… so I opted to embrace a cautiously optimistic stance.

I sold a large chunk of stocks in January.

I stopped buying stocks in early February.

And I’ve let the chips fall as they may.

I think my patience and caution is paying off… and is about to pay off even more.

Why?

These are the key charts that I’m monitoring, even while I’m on vacation in Asia: