The Market Structure Map
January 7, 2026
If we need more proof that the stock market is an autonomous system, look no further than a rally on the “Donroe Doctrine,” as some are calling it. Happy New Year! We resume our coverage of US equity market structure, the mechanics of stocks. I’m...
December 17, 2025
The market isn’t really the market. Yesterday, I told Diane King Hall on Schwab Network that futures are no crystal ball. Cracked myself up with that. I meant signals from futures contracts for benchmarks like the S&P 500 often are wrong. Why is that?...
December 10, 2025
I don’t know if it’s better to be the Wildebeest or the Hyena. But there’s safety in the herd. That’s one conclusion from my NIRI Senior Roundtable panel last Thursday with Simplify Asset Management chief strategist Mike Green (who is now also the economics rockstar...
December 3, 2025
Where is the money coming from? It’s the question Karen and I had down in Cabo ahead of Thanksgiving as we observed the hillsides overlooking the Sea of Cortez now festooned with elegant homes. It wasn’t that way the last time I visited 25 years...
November 26, 2025
We bid November 2025 goodbye and we say hello to a tryptophan high (yes, that rhymes on purpose). You EDGE subscribers, our next live Discussion is Thu Dec 4. Brian Wilson will lead it. I’ll be in San Antonio for NIRI Senior Roundtable and a...
November 19, 2025
Editorial Note: Que onda, gente! Karen and I are in Cabo marking her birthday where sea and sky meet (and as Lukas Nelson sings, “all four winds say goodbye”). This is what I wrote Oct 15 after the market rocked Oct 10 for the first...