Afternoon Note

The market derailed on confirmed reports Iran is preparing to launch a missile attack on Israel. These missiles have now been launched around 12:30 EST.
The news is sending major indices sharply lower and even though they are off the low point of the session, the angst is palpable.
The S&P 500 has a fair amount of support on a closing basis at $5,700.

Manufacturing ISM showed a sharp reversal in inventories, just as port workers have gone on strike. I’m still searching for the manufacturing miracle.

The JOLTs report saw jobs online rebound. I’m more concerned about the quits rate which continues to plunge.
I think this matters more to Powell than a headline month-to-month bounce.

| Tweet |
| 1/6/2026 1:24 PM | Strength Continues |
| 1/6/2026 9:38 AM | CALLING ALL SPACE CADETS |
| 1/5/2026 1:36 PM | Starting Off Right |
| 1/5/2026 10:00 AM | 2026 NEW NARRATIVES |
| 1/2/2026 1:06 PM | Mixed Session |
| 1/2/2026 9:41 AM | DAY ONE - 2026 |
| 12/31/2025 9:38 AM | HAPPY NEW YEAR |
| 12/30/2025 1:17 PM | Investors Await FOMC Minutes |
| 12/30/2025 9:38 AM | FED MINUTES TODAY |
| 12/29/2025 2:11 PM | Holiday Continues |
| 12/29/2025 9:44 AM | LARGE STAYS IN CHARGE HEADING INTO 2026 |
| 12/26/2025 12:47 PM | Slow Session |
| 12/26/2025 9:30 AM | The Market’s Gift: New Heights |
| 12/24/2025 9:10 AM | HO HO HO, MERRY CHRISTMAS |
| 12/23/2025 1:35 PM | Just In Time For Santa |
| 12/23/2025 9:26 AM | STRONG START TO A SHORTENED TRADING WEEK |
| 12/22/2025 1:37 PM | Broad Strength |
| 12/22/2025 9:26 AM | GETTING READY FOR THE YEAR-END |
| 12/19/2025 1:40 PM | Is Santa Coming? |
| 12/19/2025 9:38 AM | DEAR SANTA |
| 12/18/2025 1:44 PM | Markets Enthusiastic |
| 12/18/2025 9:28 AM | ORACLE CONTINUES TO HAUNT THE AI TRADE |
| 12/17/2025 1:23 PM | Technology Slides |
| 12/17/2025 9:40 AM | SPRING LOADED |
| 12/16/2025 1:44 PM | Drifting Lower |
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