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The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

Thermos is recalling 8.2 million containers after consumers suffered laceration injuries — and in some cases reported permanent vision loss — when stoppers forcefully ejected from the products and struck them in the face.

The recall covers approximately 5.8 million Stainless King Food Jars and 2.3 million Sportsman Food & Beverage Bottles. According to a recall notice posted by the U.S. Consumer Product Safety Commission on April 30, consumers should stop using the affected products immediately.

The affected models include Thermos Sportsman Food & Beverage Bottles: all units, model SK3010; Food Jars and Food & Beverage Bottles: all units, models SK3000 (16-ounce), SK3020 (24-ounce), and SK3010 (40-ounce); and Thermos Stainless King Food Jars manufactured before July 2023: models SK3000 and SK3020.

The model number can be found at the bottom of the item.

The hazard stems from a design flaw in the stopper — the component that retains heat and prevents leakage. If perishable food or beverages are stored for an extended period, pressure can build up and cause the stopper to forcefully eject when the container is opened. Unlike safer designs, the stopper on the recalled models lacks a pressure-relief valve.

Thermos said it has received 27 reports of consumers being struck by an ejected stopper, including injuries requiring medical attention. Three consumers reported suffering permanent vision loss after being struck in the eye.

The recalled products were sold between March 2008 and July 2024 at Walmart, Target, and Amazon, as well as on Thermos.com. They were available in a variety of colors and bear the Thermos trademark on the side.

Owners of SK3000 and SK3020 Food Jars should dispose of the stopper and submit a photo of the disposal to Thermos. Owners of SK3010 bottles should return the product using a prepaid shipping label provided by the company. For details on returns and replacements, visit the Thermos recall page at Thermos.com.

Roughly 36,000 Heartwarming Hugs Bears, a stuffed animal manufactured by Build-A-Bear, are being recalled due to a zipper detaching from the bear’s pouch.

On Thursday, the U.S. Consumer Product Safety Commission announced that the stuffed animals pose a serious risk of injury or death, as the detached zipper can present a choking hazard.

The recall number is 034464. The recall number can be found on the product label located on the back of one of the bear’s legs.

The bear includes a stuffed heart that fits inside a pocket. The heart-shaped insert is filled with 2.5 pounds of ceramic beads and can be used as a heating pad or chilled for cooling comfort.

“The product is graded 3 years+ and carries a cautionary statement advising adult supervision due to the heated/cooled element,” the release stated.

The bear was sold between January 2026 and March 2026 for about $48.

Customers are advised to immediately stop using the Heartwarming Hugs Bear. Consumers who purchased the bear should return it to the nearest Build-A-Bear store or request a shipping label at www.buildabear.com/recalls. Once returned, Build-A-Bear will issue a refund to the original form of payment or provide a gift card.

There have been no reported injuries, although one consumer in the United Kingdom reported the zipper detaching.

For information on the recall visit Build-A-Bear online at www.buildabear.com/recalls according to the release.

Market watchers looking for clarity about the direction of Big Tech and the AI investment boom didn’t get much Wednesday afternoon amid a barrage of key earning reports.

Instead, four leading tech companies reported quarterly results that beat Wall Street’s official forecasts but nevertheless fell short of the sky-high expectations investors have set for companies leading the AI revolution.

Investors were most enthusiastic about the results of Google parent Alphabet, whose shares climbed as much as 6% in after-hours trading. The company reported earnings and revenue that beat analysts’ expectations and raised its estimate of how much it would spend on AI infrastructure.

Earnings for Facebook parent Meta were greeted with less fervor. Its shares fell more than 5% after it said it expected revenue growth to stay flat in the second quarter.

Amazon’s and Microsoft’s results and forecasts were more mixed. Investors ultimately sent both lower by about 3%.

The major U.S. stock indexes are sitting near all-time highs despite war with Iran, rising oil prices and dismal consumer sentiment readings.

But overall business investment and consumer spending levels remain resilient — and companies on the S&P 500, the index considered the best proxy for overall stock market performance, are reporting the highest average net profit margins in more than 15 years, according to the analytics group FactSet.

That performance is being led by tech companies known as “The Magnificent 7” — Apple, Microsoft, Alphabet, Amazon, Meta, Nvidia and Tesla, which dictate about one-third of the S&P 500’s average performance.

Tech’s leadership has created a double-edged sword for the market writ large: When times are good in tech, the market tends to rise. When tech’s performance is rockier, the market can sink.

“Stocks are again trading at record highs, reflecting strong investor confidence, but the S&P 500’s heavy concentration in the Mag 7 technology leaders elevates downside risk should earnings fall short, as valuations leave little margin for error,” Chris Brigati, chief investment officer at SWBC, a Texas-based financial group with more than $1 billion in assets under management, said in a note to clients this week.

Investors remain focused on the companies’ projections for future spending levels on the technology and infrastructure underlying their AI programs — and how they square with revenue, Brigati said.

“Each company faces its own dynamics, but delivering tangible results from elevated [capital expenditures] remains the critical test,” he said.

Until the end of March, Mag 7 companies’ performance had been caught in the downdraft that hit the broader market as the war with Iran took hold. Many had already spent much of the second half of 2025 treading water as concerns about the timeline for earnings from AI investments, plus seemingly circular financing arrangements, took hold.

But sometime in early April, investors began to realize that the most important names had been trading at discounts relative to projected earnings, according to Ed Yardeni, an economist and president of Yardeni Research, a widely respected market consultancy.

“I think the perception that there might be an exit ramp for Trump with the war with Iran and ceasefire got investors looking at markets again, and what they suddenly realized is the overall market, and specifically the Mag 7, were a lot cheaper,” Yardeni told NBC News.

In recent days, the market has lost some momentum amid signals that President Donald Trump is planning for a more prolonged conflict. A Wall Street Journal report that ChatGPT maker OpenAI may be on track to miss key revenue and user targets has also slowed tech’s recent momentum. OpenAI investments in — and from — other major tech companies have left it deeply intertwined in the AI boom, and some investors fear any weakness could ripple through parts of the AI ecosystem.

OpenAI called the Journal report “clickbait.”

The actual severity of any shortcomings at OpenAI and how far any weaknesses could spread remain open questions, Yardeni said. For now, cautious investor optimism remains the prevailing sentiment and will most likely continue to power markets higher.

“Concerns about some of the uncertainties, like if these companies are spending too much or if they’ll ever get a proper rate of return, that seems to have gone by the wayside,” he said.

AUSTIN, Texas — The Onion’s plan to take over the Infowars platforms that Alex Jones built into a bullhorn of conspiracy theories and turn them into parody sites was in limbo again Thursday, after a Texas court paused a proposed deal involving the satirical news outlet.

Austin-based Infowars is facing liquidation because of the more than $1 billion in defamation lawsuit judgments Jones owes relatives of victims of the 2012 Sandy Hook Elementary School shooting for calling the Connecticut massacre a hoax. The proposed licensing deal would give The Onion temporary authority to use Infowars’ trademarks, copyrights and intellectual property while a state receiver in Texas works toward liquidation.

A state judge in Austin had scheduled a hearing Thursday on whether to approve The Onion deal with the receiver. But the proceeding fizzled into a status conference because the Texas Third Court of Appeals late Wednesday approved an emergency motion by Jones’ lawyers that temporarily blocked the transfer of any Infowars assets. The judge set another hearing for May 28.

Lawyers for the Sandy Hook families had asked the Texas Supreme Court to overturn the appeals court ruling, but the high court did not issue a decision before Thursday’s hearing.

“This newly insane, unprecedented legal stalling does nothing but delay our deal with the receiver to take control of InfoWars,” Ben Collins, The Onion’s CEO, said in a social media post ahead of the hearing. “We now expect new traps in Alex Jones’ amoral war to deny paying the Sandy Hook families, but we’re freshly surprised by the U.S. legal system’s appetite to put up with it.”

The Onion already has been selling Infowars merchandise on its own website, including T-shirts and tote bags with an Infowars logo that replaces the “o” with its trademark onion image. It wants to turn the Infowars platforms into comedy sites that would include spoofing Jones, conspiracy theories and right-wing talking points, while giving revenue to the Sandy Hook victims’ relatives.

Jones declared victory in videos posted on his social media sites after the appellate court ruling. He called The Onion’s plan illegal, citing pending appeals and his continuing personal bankruptcy case.

“I said days ago there’s no way the Third Circuit Court of Appeals in Texas doesn’t overturn this — you know they’re all Democrats — because it’s so outrageous what you’ve done,” Jones said.

After Thursday’s hearing, Mark Bankston, a lawyer for some of the Sandy Hook victims’ relatives, accused Jones of delaying the liquidation of Infowars numerous times with court filings.

“As far as the world is concerned, Infowars is dead. Everybody knows that,” he said. “He’s trying to keep the bloated corpse of a media organization alive. It’s all a joke. Everybody knows where this is going.”

It’s not the first time The Onion has hit a legal setback in plans to take over Infowars.

In November 2024, the Chicago-based satirical outlet was named the winner of a bankruptcy court auction of the assets of Infowars’ parent company, Free Speech Systems, aimed at helping pay some of the defamation judgments. But a federal judge overturned the auction results, citing problems with process and The Onion’s bid.

Jones said on his show this week that he has a new studio nearing completion. He already has set up a new phone app and websites, including one that sells the dietary supplements, clothing and other merchandise he hawks on his shows. And his personal X account, where he posts videos of his shows and has 4.5 million followers, is not affected by any of the court cases.

On Thursday night, Jones toasted to his crew and viewers during a livestream on X as a clock ticked down to when he said his final moments in the building would hit.

“We’re not here anymore because they’re turning the power off at midnight,” he said.