The Weekly Trend
The Weekly Trend
Episode 282: New Year Same Market
In this week's episode, Ian and Kevin discuss how metals and mining are off to a good start this year, the Russell 2000 with a nice setup again, international equities, areas of Financials that are performing well, a mixed bag from semiconductors, and crypto miners.
Welcome back to the Weekly Trend Podcast. Today is January 9th, 2026 and P sitting at 69 58. My name is Ian McMillan, and today I am joined by Kevin Firari. Pretty decent start so far to the year for, well, at least for stocks and some other assets. Anything that sticks out to you as we have completed our first full week of the calendar trading year.
kevin-firari_1_01-09-2026_102102:I mean, I guess well so far today, I guess the candle on the s and p is nice. It'd be nice if we can finally stick. Like 6,900 somewhere in there and kind of stay above that. I mean, that was a level kind of at the end of last year, around New Year's, we kind of wrapped around a little bit. So I mean, it's definitely not gonna hurt if we get a sustained move up above that level, but I mean. Gold, silver, really all of your more kind of pressures metals copper materials just in general with a really nice start to the year.
squadcaster-d074_1_01-09-2026_112101:Yeah, a lot of themes continuing right where we left off. I would
kevin-firari_1_01-09-2026_102102:I.
squadcaster-d074_1_01-09-2026_112101:the precious metals in that category. Some, I mean, we've had some big moves. The last, I mean, this week really did, Tuesday through Thursday there was some corrections in precious metals. I mean, silver, just silver was down almost 10% from it's Tuesday intraday Tuesday close to. It's lows yesterday. But back to what would be closing on the highs for the week we close here. I would also put aerospace. interestingly enough in that same category, it was very, very strong theme 2025. Had some volatility this week off of some headlines, but has. Kind of corrected itself here since yesterday's lows and back to back to where we started,
kevin-firari_1_01-09-2026_102102:Yeah, for sure. And I mean, even Russell a pretty nice start to the year. But I mean, we kind of talked about that in the past. It's really hard to trust, I guess, that since it's failed so many times now. But I mean.
squadcaster-d074_1_01-09-2026_112101:It looks like a
kevin-firari_1_01-09-2026_102102:Really?
squadcaster-d074_1_01-09-2026_112101:breakout
kevin-firari_1_01-09-2026_102102:Yeah, so far.
squadcaster-d074_1_01-09-2026_112101:question. Yeah. And so then the question becomes, okay, what about the relative chart? So absolute chart, I mean, one of the better looking major indices as far as I like to reference the, like Halloween highs. That's kind of when the November. Sell off started. So anytime I'm looking at a chart I kind of try to pay attention to where it is in regards to it's late October might have technically been like the 30th, right? In my mind, I, I say the Halloween highs Russell pretty solid. I mean, got back above. That was early December. kind of fizzled for a few weeks. And now once again, I mean, a pretty clean breakout. Again, we don't know where this closes. On the contrary, s and p's still kind of hanging around it's October highs we got, we had the breakout. We tried this right after Christmas, that kind of fizzled again this week. A retest, a bounce today. So showing some sign significance there. NASDAQ on the other hand, really not that close to its late highs. We are still about. Almost 2% away. So from a relative performance yeah, definitely the laggard definitely. It's just so hard, it's so hard to trust. Russell, you do have biotech working.
kevin-firari_1_01-09-2026_102102:All right. Which hits, I mean, biotech kind of an interesting look. Kinda more so today here, well really yesterday.
squadcaster-d074_1_01-09-2026_112101:Small cap. Industrials don't look, they don't look terrible. They look like small caps. Regional banks are, I don't know. Had a good day yesterday.
kevin-firari_1_01-09-2026_102102:I mean it, you mentioned like Russell and a relative, like if you to get more history using like RUT versus SPX. Where that relative kind of bottomed basically Q2 25, which it's kind of a level that wrapped around a little bit back in like late nineties, early two thousands, like around the kinda the.com.
squadcaster-d074_1_01-09-2026_112101:Now RU, I would say RUT versus s and P. It looks pretty clean. Wouldn't that be something? I don't know, man. You know this, I've seen this, I've seen obviously, I mean, it's been a running joke for a while on our team. It's just so uncanny how Russell does this and then ends up fizzling out over the next
kevin-firari_1_01-09-2026_102102:Right.
squadcaster-d074_1_01-09-2026_112101:few weeks. I don't know. I, I can't even say that I necessarily feel super strong about it under the surface. Yeah. I mean, maybe biotech is, and you could say that's a, also put that in the, a theme that's continued. At least it kind of got going in like Q4, right? I wouldn't say biotech was a huge theme throughout 2025. I feel like I noticed it more in I guess it kind of got going earlier in the summer. I certainly was not paying attention to that really until like September, October. I guess it could be enough. I don't. I don't know. See, I guess we're gonna find out for the millionth time.
kevin-firari_1_01-09-2026_102102:Right. But I mean, I mean, well that's the thing with the makeup, right? Of the Russell, like small cap tech using like, what is that, PSET,
squadcaster-d074_1_01-09-2026_112101:Yeah,
kevin-firari_1_01-09-2026_102102:that's held up pretty well. I mean, it's got a pretty
squadcaster-d074_1_01-09-2026_112101:that's a good
kevin-firari_1_01-09-2026_102102:look. Yeah. I mean it's, it's definitely held its own here as of. I mean, whether that's gonna sustain itself I guess is, it's kind of early on that front,
squadcaster-d074_1_01-09-2026_112101:So healthcare, industrials, financials, all
kevin-firari_1_01-09-2026_102102:pretty, somewhat equally weighted towards the top.
squadcaster-d074_1_01-09-2026_112101:equally weighted like 17 and a half to, call it 18%.
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:Information tech 14 and a half and then you get consumer discretionary at nine. I mean, we did see XRT breakout, XRT had a good day yesterday. It's a pretty decent chart. Absolute chart.
kevin-firari_1_01-09-2026_102102:Mm-hmm. Like small cap industrials at all time highs.
squadcaster-d074_1_01-09-2026_112101:yeah,
kevin-firari_1_01-09-2026_102102:know, you talk about biotech, that's gonna help, right. Like your small cap healthcare. A lot of that's probably biotech. I mean, I think it's the financials part of that that's probably a little more interesting. It's. Because I mean, we were kind of talking about this, what thinking earlier this week just financials in general really. It's like your really bigger banks.
squadcaster-d074_1_01-09-2026_112101:Oh my gosh. Yeah
kevin-firari_1_01-09-2026_102102:Like your JP Morgans, Goldman Sachs your bigger European banks. Like what? Like HSBC, Deutsche Bank like really large institutions and then like occasionally.
squadcaster-d074_1_01-09-2026_112101:bank of America, Citigroup. You could probably put Wells Fargo. It's the, the big banks. Look I don't know who it's financials workbook. I've noticed it just 'cause going through s and p
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:stuff. But yeah, I mean financials. And then when you look at. Those two ETFs, so GSIB and then the KBWB or KWBW, something like
kevin-firari_1_01-09-2026_102102:Yeah. KBWB.
squadcaster-d074_1_01-09-2026_112101:Yeah, which is like the NASDAQ banking index. those look way different than KBE or regional banks. KRE.
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:And they have good relative choice. I mean specifically, specifically one that has been talked about in our team. It's kind of interesting to watch you do wonder if JP Morgan for those of you playing at home. If you pull up a JP Morgan relative chart just really, really fascinating look there. I mean, a monthly relative line chart I just think looks incredibly clean. I mean, I gotta think that that plays out now. So when you think about that, I think about that chart. And then I think about, okay, so stocks keep going up, then that then you would assume JP Morgan would keep going up more than stocks, quote unquote, stocks. Stocks being s and p 500. Then you wonder about like JP Morgan. I mean it's not like JP Morgan's absolute chart is setting up nicely for an entry and, oh look, this is matching up per perfectly, we're getting, right? That's as a technician, you see the relative chart maybe coming out of a nice big base and then maybe also the absolute chart is as well. That's not what's happening here. I don't. JP Morgan off the COVID, or sorry, not the COVID lows, but the tariff tantrum lows already up 63%. So this is something you kind of gotta
kevin-firari_1_01-09-2026_102102:Yeah, a lot of those banks really have kind of a similar look. It'd be pretty tough to really catch that now at this point.
squadcaster-d074_1_01-09-2026_112101:One of those situations where if you think stocks are gonna go higher over the next two to six years maybe you're in and it's not about the beauty of the entry, it's just being involved.
kevin-firari_1_01-09-2026_102102:Yeah, more so working off the relative look than you are the absolute, for the most part. Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:Which I feel like has happened more and more. I think that, I feel like that has been the case, especially throughout Q4.
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:Especially when you or David, I guy through workbooks. I mean, I know personally I constantly I feel like whether I'm doing this consciously or not, but. Repeating the phrase great relative chart. I don't know how, I mean, I know how you can get in. I'm just saying it's not using some type of horizontal level.
kevin-firari_1_01-09-2026_102102:Right.
squadcaster-d074_1_01-09-2026_112101:I know you can get in. I mean, you can get in JP Morgan as long as you're above three 20, I think you're fine. It's just not the most. It's a very short term entry point in the grand context of the trend.
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:I mean, ideally you were in JP Morgan January, 2024. That was a much bigger, multiyear. I mean, it was just getting above its 2021 highs. It is a hundred percent since its breakout in January, 2024. It's doubled from about 165 bucks to three 30.
kevin-firari_1_01-09-2026_102102:Yeah, and I would think that's gotta be right, like a, I dunno, phenomenon if you really wanna call it that, right? As you get. Further along within like these broader market uptrends, right? I think it's probably gotta be more natural just to have to almost rely on some more relative entries than the absolutes. cause I mean after a multi-year uptrend, right? I mean it's gonna gotta be pretty tough to find some real nice, clean, big based like absolute entries at that point.
squadcaster-d074_1_01-09-2026_112101:Yeah, you're not, you really are not now. Right? And then that comes with your conundrum is that you'll say, okay, well then it'd be nice if you know the market reset. Right? People
kevin-firari_1_01-09-2026_102102:All right.
squadcaster-d074_1_01-09-2026_112101:say that, oh, I, maybe the market could reset and get some better entries, whatever that, means of course no one's ready to jump on stocks after a market's been at a 10% correction. At least from a technical perspective, the way we look at charts, it's hard to, so, yeah, I would agree. A lot of it is just I would say just jumping on and closing your eyes. Although it can kind of feel but I mean, look at. Now this wasn't our decision, but you see a lot of that in the ETF too. I mean, you saw that with the WDC trade and A DPV where, I mean, I just kind of cringed buying WDC at, it was already up, I think 350% off the tariff lows when we bought it in October. And then it went up another 50%. So that is, I think, a pretty good example of the market. We continue to be in That's actually a great opportunity to bring up the. Sponsor of this podcast, the Adaptive Select ETF, listed on the NYSE under ticker A DPV helps investors access two of the most prevalent factors in markets, momentum and relative strength through proprietary identification methods. The adaptive Select ETF attempts to own the strongest 25 large cap stocks the market is in an uptrend. And since not all market environments are the same. Adopt to select seeks to prevent extended declines by moving short-term treasury bills and cash during long-term market. Downtrends investors can find out more including how to invest in AD PV by visiting ad etf.com or calling 1 8 3 3 8 8 0 5200. Investing involves risk, including possible loss of principle. Distributed by Quasar Distributors. LLC. Anything going in on the commodity space. That's interesting. Other than
kevin-firari_1_01-09-2026_102102:Yeah. I mean,
squadcaster-d074_1_01-09-2026_112101:precious metals, we could just get plenty of attention.
kevin-firari_1_01-09-2026_102102:yeah, it's really just the medals for the most part. I mean. Like in your soft space? A lot of chop for the most part. I mean, orange juice is kind of interesting.
squadcaster-d074_1_01-09-2026_112101:I have noticed when I peruse them that orange juice
kevin-firari_1_01-09-2026_102102:yeah.
squadcaster-d074_1_01-09-2026_112101:the top recently
kevin-firari_1_01-09-2026_102102:Yeah. I mean it's kind of a, I mean that's kind of more of a short term trade, I guess. If you're gonna try to take that like above, what is that here? Like 2 0 7, something like that. 2 10, 2 15. Yeah, it's kind of an interesting look, but like other than that meats.
squadcaster-d074_1_01-09-2026_112101:gas got hit pretty hard.
kevin-firari_1_01-09-2026_102102:Yeah. Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:And then, and then again this week. I see, yeah. That was Monday. Gap down.
kevin-firari_1_01-09-2026_102102:I mean, I will say oil and gasoline have some pretty interesting looks. I mean, I wouldn't say they're necessarily the cleanest, but like looking at crude here,
squadcaster-d074_1_01-09-2026_112101:Yeah. Held 55.
kevin-firari_1_01-09-2026_102102:yeah, and I mean, right where you. It's reacted there now a couple times last year April, may, kinda like late October, early November it did as well. So it it's definitely finding support there once it gets around 55 bucks a barrel. But I mean, now it's just a matter of can I actually do something with that? I mean, you're seeing a little bit more action. In energy, which is maybe a little interesting. I wouldn't say it's necessarily broadly speaking. It's more in the trying to think the term for that industry.
squadcaster-d074_1_01-09-2026_112101:Renewable
kevin-firari_1_01-09-2026_102102:like your, yeah, a little bit. I like your kind of services side, like an XES,
squadcaster-d074_1_01-09-2026_112101:oh yeah. Yeah.
kevin-firari_1_01-09-2026_102102:His looked a little bit better. Yep. But I don't know. We'll see. Yeah. Pretty quiet on the commodity front. Fixed income space has been pretty consistent for the most part.
squadcaster-d074_1_01-09-2026_112101:Yeah.
kevin-firari_1_01-09-2026_102102:your higher yield floating rate areas are still doing pretty well. Emerging market bonds still doing pretty well.
squadcaster-d074_1_01-09-2026_112101:Convertibles are
kevin-firari_1_01-09-2026_102102:bonds. Yep. They're doing better. We'll see if they stick it, but so it,
squadcaster-d074_1_01-09-2026_112101:do we Em?
kevin-firari_1_01-09-2026_102102:I don't know, even when it gets a little warmer out
squadcaster-d074_1_01-09-2026_112101:Okay.
kevin-firari_1_01-09-2026_102102:when you can take the tap off the car. I don't know if you wanna be doing that in January.
squadcaster-d074_1_01-09-2026_112101:Yeah. It might be a little chilly to be converting them.
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:This early in the year.
kevin-firari_1_01-09-2026_102102:Yeah, so I mean, still risk on there, at least for now, which is good, but.
squadcaster-d074_1_01-09-2026_112101:Semis are still weird to me. I don't know if I can't, semis do not feel like to me yet we're gonna have another big year of semiconductor outperformance. I'm not quite feeling that yet. Now if you look at the chart. He would say yes and they look fine and I would not disagree with you, but I don't know. I mean, I guess right at the end of the day it's NVIDIA's gonna have to get it together.
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:yeah, because some of them do. I mean, your TSMs your microns. I mean, yes, there are ones that look just fine. but I'm talking about being allocated semiconductors, broad basket semiconductors, whether you wanna use SMH socks, they both look good. the two x still, I don't know. I always like to look at the two X versus the one X, right? I mean, that's, that's, that's a way to look at relative strength. Should I be involved in this? Yeah. Just, I don't know. We'll see. I am very interested to see, I'm sure like the rest of the world, this is not some earth shattering. A thing, but yeah, interest to see what happens with semiconductors and whether they, they didn't have a great November and December so we'll see.
kevin-firari_1_01-09-2026_102102:Yeah, lamb research, really nice start to the year.
squadcaster-d074_1_01-09-2026_112101:Yeah,
kevin-firari_1_01-09-2026_102102:cx, it's been a pretty strong one.
squadcaster-d074_1_01-09-2026_112101:a Broadcom, Broadcom still looks like blah. A MD forever, always looks like. What else? Ridiculous. It's just around riding coattails. Anything across the pond interests you?
kevin-firari_1_01-09-2026_102102:I mean, I think just international general's held up really well. I mean if you look at like your individual country ETFs, there's pretty much only one that's down on the air so far, and that's India.
squadcaster-d074_1_01-09-2026_112101:Whoa. Whoa. Well,
kevin-firari_1_01-09-2026_102102:hmm.
squadcaster-d074_1_01-09-2026_112101:about that?
kevin-firari_1_01-09-2026_102102:Right. I mean, I think technically Ireland is too, but it's, no, actually that is positive now. It was essentially flat earlier this morning. But it is slightly positive. But yeah, India down like a percent and a half on the air. Other than that,
squadcaster-d074_1_01-09-2026_112101:When
kevin-firari_1_01-09-2026_102102:the board.
squadcaster-d074_1_01-09-2026_112101:a, I have a question for you. When someone says across the pond, do you instinctually think about Europe?
kevin-firari_1_01-09-2026_102102:Yeah, I would say so.
squadcaster-d074_1_01-09-2026_112101:Okay, so is there a ter? Does,
kevin-firari_1_01-09-2026_102102:You probably shouldn't though.
squadcaster-d074_1_01-09-2026_112101:well, that's what I'm wondering. Is there a term for thinking about people on the other side of this Pacific Ocean?
kevin-firari_1_01-09-2026_102102:Well, yeah, because there's two ponds, right? Well, I mean.
squadcaster-d074_1_01-09-2026_112101:ponds and I thi, I feel like most Americans default to Europe. It might even be a European saying,
kevin-firari_1_01-09-2026_102102:Could be.
squadcaster-d074_1_01-09-2026_112101:up with this or did we come up with it? It feels like a British thing to call the ocean a pond. feels kind of British to be honest. And so I think that's why you naturally think about Europe, do you think, do you think like Asians say that Oh yeah. When they go to America, oh, I'm try, I'm fill in the blank
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:their version of. The pond across the pond.
kevin-firari_1_01-09-2026_102102:So it does, I'm looking this up. Now this is like just defaulted to like Google's ai, Gemini three thing. So, I mean, take this to the grain of salt, I guess, but. Does seem to be more so contributed. Yeah. To Britain. There's something in here about the herring pond, which. I'm not sure. I mean, but it's going back like 17, 18 hundreds. I mean, it's so, it's, it's going ways back. But yeah, definitely seems to be more of a attributed to Lin, which would make sense why it probably defaults you to think
squadcaster-d074_1_01-09-2026_112101:if there's any,
kevin-firari_1_01-09-2026_102102:western gear.
squadcaster-d074_1_01-09-2026_112101:Anyone in Asia or anyone with a lot of about Asian cultures please feel free to DM me 'cause I would be genuinely curious to know if, or do pe like do people maybe like people in California would know more cause they probably go to Asia more.
kevin-firari_1_01-09-2026_102102:Right. I feel like we need.
squadcaster-d074_1_01-09-2026_112101:you never hear about people on the east coast going to Asia. Do you, do you hear about when people, people in Wisconsin, do they go to Asia?
kevin-firari_1_01-09-2026_102102:Oh, I would assume so. So I, I don't know too many people that travel.
squadcaster-d074_1_01-09-2026_112101:Well,
kevin-firari_1_01-09-2026_102102:Um
squadcaster-d074_1_01-09-2026_112101:I mean, I need to go to Tokyo. That's still number one on my list.
kevin-firari_1_01-09-2026_102102:mm-hmm. I mean, like, the only time, the only place I've been to outta the country is Canada, so I'm not much of a world traveler by any means. Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:Well, anything else that you would like to share with our viewers, not viewers, listeners today?
kevin-firari_1_01-09-2026_102102:I mean, we're kind of talking about, I don't think we really covered this necessarily when we, before we actually started recording, but you know, looking at like crypto miners, like WGMI is a pretty interesting look and I know you were talking about like a handful of some of the individual stocks within there that were looking pretty good.
squadcaster-d074_1_01-09-2026_112101:I think that's interesting you brought that up. I used to kind of, right or wrong, kind of defaulted that, oh, if MSTR look good, then they probably all look good. And if MSTR look bad, they probably are look bad. But much to my surprise, there certainly seems to be some decoupling around there. I for, I think it was hut I was looking at earlier. Yeah, you mentioned DAP and wag me. Those look a lot better. I was shocked to see, I don't even know if I, which one I looked at, but wag me or MSTR was not even in the top 10 holdings, so yeah,
kevin-firari_1_01-09-2026_102102:Yeah I like IREN was another one. A
squadcaster-d074_1_01-09-2026_112101:iron looked
kevin-firari_1_01-09-2026_102102:look there. Mm-hmm. Cipher, CIFR, another one there.
squadcaster-d074_1_01-09-2026_112101:That is, that's a stock that I'm really, really intrigued with. I didn't know a lot about it until like the last couple days. CIFR, I think it's a really nice consolidation
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:14 bucks. Looks like it used to be one of those. Oh, what did Chama, what was SPACs? No, SPACs. Yeah, SPACs.
kevin-firari_1_01-09-2026_102102:Oh yeah. Holy cow. It's been a while talking about SPACs.
squadcaster-d074_1_01-09-2026_112101:but
kevin-firari_1_01-09-2026_102102:Yeah.
squadcaster-d074_1_01-09-2026_112101:had the whole like hovering around $10 thing actually got crushed, like most SPACs down to 38 cents. It's pretty nice looking chart. Very intriguing. I would say we talked a little bit about foreign. I find a lot of the foreign value and international foreign small cap ETFs to be kind of intriguing.
kevin-firari_1_01-09-2026_102102:Mm-hmm. IVLU looks really good.
squadcaster-d074_1_01-09-2026_112101:yeah. Yep. I think that that's a spot still trying to figure out what EEM as a whole. Is gonna do this relative chart is, I mean, we're just, we're there, but it's not quite, not quite finished in the breakout. It is a very good looking chart that, so that's another one where. I mean, what if emerging markets never gets a relative breakout, but its chart still continues to look amazing what does that for mean for the s and p?
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:Don't know.
kevin-firari_1_01-09-2026_102102:And I mean, like Asia's been really active to start the year too. Other than China, I mean, China's still like and Pine, but like
squadcaster-d074_1_01-09-2026_112101:Yeah.
kevin-firari_1_01-09-2026_102102:doing really well, especially the currency edged version DXJ off to a huge start.
squadcaster-d074_1_01-09-2026_112101:Massive In
kevin-firari_1_01-09-2026_102102:South Korea doing really well. Singapore, eh.
squadcaster-d074_1_01-09-2026_112101:TSM is South Korean, right? No, it's
kevin-firari_1_01-09-2026_102102:well, no, like Taiwan semiconductor. Yeah.
squadcaster-d074_1_01-09-2026_112101:That's a dumb question.
kevin-firari_1_01-09-2026_102102:So was EWT, is that Taiwan? Yeah.
squadcaster-d074_1_01-09-2026_112101:a Taiwan ETFE. Yeah. EWT. It's still around, right? Yeah.
kevin-firari_1_01-09-2026_102102:Yeah, it's holding up, I would say South Korea, Japan probably the strongest two.
squadcaster-d074_1_01-09-2026_112101:Korea, Samsung, that's the big one. And they have Hyundai.
kevin-firari_1_01-09-2026_102102:of,
squadcaster-d074_1_01-09-2026_112101:Yeah, that's what I'm gonna say to play it off. Yeah. I was thinking of Samsung, Samsung, Taiwan, semi.
kevin-firari_1_01-09-2026_102102:yeah, and like Latin America using an ILF. I mean, if they can get above like 32 50, I mean, that's
squadcaster-d074_1_01-09-2026_112101:looks intriguing.
kevin-firari_1_01-09-2026_102102:mm-hmm.
squadcaster-d074_1_01-09-2026_112101:it is below a relative 200. No, it's right above. Okay. I was watching this, I put this on my watch list this morning, Argentina. Looks very intriguing. that gap, that big gap back late October in the 27th or something. Yeah, Monday the 27th. It's consolidated. I had a pretty good 20, well, I had a good 2024. 2025 was kind of fell apart in the second half of the year,
kevin-firari_1_01-09-2026_102102:Mm-hmm. Yeah, like Germany too, EWG, like, I mean really today, like up above like, well, I guess you get 43 round numbers. It's kind of an interesting look there,
squadcaster-d074_1_01-09-2026_112101:Yeah,
kevin-firari_1_01-09-2026_102102:but
squadcaster-d074_1_01-09-2026_112101:chart kind of looks like it's
kevin-firari_1_01-09-2026_102102:that's the thing. With like a lot of these right international areas, they're definitely not the cleanest looking relative charts. So that can kind of complicate the decision making there a little bit.
squadcaster-d074_1_01-09-2026_112101:China,
kevin-firari_1_01-09-2026_102102:mean,
squadcaster-d074_1_01-09-2026_112101:China just doesn't do it. It doesn't
kevin-firari_1_01-09-2026_102102:it's just,
squadcaster-d074_1_01-09-2026_112101:yet.
kevin-firari_1_01-09-2026_102102:no, I mean VEU versus SPX, I mean, you guys kind of talked about that last week. I mean, it's tight. Right. Really over.
squadcaster-d074_1_01-09-2026_112101:bad. Japan's whole, I mean, yeah, if you
kevin-firari_1_01-09-2026_102102:Big gap from DX J today.
squadcaster-d074_1_01-09-2026_112101:oh, yeah, yeah. What's the, yeah, the hedge one looks pretty good.
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:But the knee K looks very good. That's a pretty good chart. Relative chart's been consolidating for about two months, I guess. So is the absolute chart. Yeah. Knee K stays above 51,000. Mean, that's what we've been saying for weeks. I know you have been, Dave has been lots of attention on the Nik I 51,000 Super important spot. Been dreaming about it.
kevin-firari_1_01-09-2026_102102:Right.
squadcaster-d074_1_01-09-2026_112101:That's all I think about Nikk. 51,000. My kids asked about it.
kevin-firari_1_01-09-2026_102102:Daily, all the time.
squadcaster-d074_1_01-09-2026_112101:Dad, are we still above 51,000? Yes, sir.
kevin-firari_1_01-09-2026_102102:Daily updates at the dinner table.
squadcaster-d074_1_01-09-2026_112101:We can start doing our prayers in Japanese.
kevin-firari_1_01-09-2026_102102:Give it a little extra boost.
squadcaster-d074_1_01-09-2026_112101:Yep. Just positive energy out there. I,
kevin-firari_1_01-09-2026_102102:Gotta do it sometimes.
squadcaster-d074_1_01-09-2026_112101:all right. Anything else? Before we conclude this week's episode.
kevin-firari_1_01-09-2026_102102:I don't think so. I mean. Putting out a pretty nice candle in the SP so far today. Knock on wood. I mean,
squadcaster-d074_1_01-09-2026_112101:I just knocked,
kevin-firari_1_01-09-2026_102102:right. Good. Because usually when I say it, it's usually about the last time. It's pretty much top for everything when I talk about it.
squadcaster-d074_1_01-09-2026_112101:you heard it from the man himself,
kevin-firari_1_01-09-2026_102102:Mm-hmm.
squadcaster-d074_1_01-09-2026_112101:nice weekly candle on. S and P 500. I love being able to say that going into the weekend.
kevin-firari_1_01-09-2026_102102:I know it makes the weekend a lot better all around. But
squadcaster-d074_1_01-09-2026_112101:it does. Well, take care. If you have time, please give us a ranking on your platform of choice and we will see you next week. Have a great weekend.
kevin-firari_1_01-09-2026_102102:have a good weekend, everybody.