Wednesday, March 11, 2026

The Morning Call---another domino

 

The Morning Call

 

3/11/26

 

The Market

         

    Technical

 

            Tuesday in the charts.

            https://www.zerohedge.com/markets/crude-chaos-software-slammed-bitcoin-bullion-bid

 

Note: the S&P tried to follow through the Monday rally, but (1) bounced down [unsuccessfully challenged] off its 100 DMA, (2) made a second lower low and (3) a third lower high. Not that encouraging and suggesting another attempt at challenging its 200 DMA may be in the offing.

 

Tuesday in the technical stats.

https://www.barchart.com/stocks/momentum

https://www.barchart.com/stocks/market-performance

https://www.barchart.com/stocks/sectors/rankings

https://www.barchart.com/stocks/signals/new-recommendations

 

            Calm market illusion.

            https://www.zerohedge.com/the-market-ear/calm-market-illusion

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

Weekly mortgage applications were up 3.2% while purchase application grew 7.8%.

 

Month to date retail chain store sales were up 6.2% versus +7.0% in the prior week.

 

February existing home sales rose 1.7% versus forecasts of -0.8%.

                          https://www.advisorperspectives.com/dshort/updates/2026/03/10/existing-home-sales-rebound-1-7-in-february-beat-expectations

 

                                                  February CPI was up 0.2%, in line; core CPI was up 0.3%, also in line.

 

                        International

 

                          February Japanese PPI came in down 0.1% versus projections of +0.1%.

 

                          February German CPI was up 0.2%, in line.

 

                        Other

 

                          The latest data suggests no job growth in 2025.

                          https://bonddad.blogspot.com/2026/03/the-gold-standard-qcew-for-last-q3.html

 

            Iran

 

              Overnight news.

              https://www.zerohedge.com/geopolitical/hegseth-warns-most-intense-day-operation-epic-fury-iea-plans-largest-ever-spr-dump

 

              Western power rally to support Gulf States.

              https://www.bloomberg.com/news/articles/2026-03-10/western-powers-rally-to-defend-gulf-states-from-iranian-attacks?sref=loFkkPMQ

 

              Trump doesn’t understand his enemy.

              https://www.bloomberg.com/opinion/articles/2026-03-10/iran-war-trump-doesn-t-know-his-enemy-that-gives-iran-an-edge?sref=loFkkPMQ

 

              No return to normal anytime soon.

              https://www.ft.com/content/b33b5ff1-7a92-4d0f-a4e7-dfa70d17e739

 

              An eye for an eye.

              https://www.zerohedge.com/geopolitical/irgc-says-iran-not-us-will-determine-wars-end-trump-threatens-strikes-20-times-harder

 

            Monetary Policy

 

              The Fed is not a repair shop.

              https://www.realclearmarkets.com/articles/2026/03/10/kevin_warsh_says_the_fed_is_not_a_repair_shop_he_must_draw_the_line_1169478.html

 

            Fiscal Policy

 

              If a debt crisis loomed, there would be no borrowing.

              https://www.realclearmarkets.com/articles/2026/03/10/if_a_debt_crisis_loomed_there_would_be_no_federal_borrowing_1169420.html

 

            Inflation

 

              The next inflation crisis.

              https://talkmarkets.com/article/the-iran-war-just-lit-the-fuse-on-americas-next-inflation-crisis-1773164723

 

              Food prices could be as big a shock to inflation as energy prices.

              https://www.zerohedge.com/markets/food-shock-could-be-bad-bonds-energy-shock

 

            The Financial System

 

              Another domino.

              https://www.zerohedge.com/markets/find-described-first-domino-private-credit-bank-run-hit-over-7-redemptions

 

     Investing

 

            Repeating history?

            https://alhambrapartners.com/weekly-market-pulse-repeating-history/?src=news

           

Markets under pressure from triple threat.

https://www.bloomberg.com/news/features/2026-03-10/iran-war-ai-disruption-private-credit-shock-markets-at-the-same-time?srnd=homepage-americas&sref=loFkkPMQ

 

            Busting the myth of Treasuries as a safe haven.

            https://www.bloomberg.com/opinion/articles/2026-03-10/are-us-treasuries-a-haven-for-investors-not-always?srnd=homepage-americas&sref=loFkkPMQ

 

            The Treasury market in not ready for an energy shock.

            https://www.zerohedge.com/markets/treasury-market-not-ready-energy-shock

 

            The new Market structure.

            https://talkmarkets.com/article/24-hours-later-what-yesterdays-vix-spike-actually-meant-1773162728

 

            Why it is so hard to predict markets.

            https://behaviouralinvestment.com/2026/03/10/why-is-it-so-hard-to-predict-financial-markets/

 

    News on Stocks in Our Portfolios

 

 

What I am reading today

 

           

 

 

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