“Semiconductor strength powers indexes to lifetime highs.” I just banged out that headline out of the blue, but you could copy and paste it onto almost any day in 2026 and be done with the task. The market has gone from giddy to full-blown berserk, as the likes of AMD vault higher every day (and night).
The worldwide obsession with semiconductors and memory chips is neatly expressed in this jaw-dropping presentation of the call open interest on EWY (the South Korea country fund). Look like a mania to you?
The circular relationships, to put it gently, among the various hyperscaling companies is going to keep working until it doesn’t. Here we see Corning (GLW) enjoying the support of Nvidia by way of a corporate partnership.
All of which compels the SOXL to rip toward yet another lifetime high, having ascended from about $40 to about $170 in the span of just over a month.
In fact, the only red on anyone’s screen right now is crude oil, which is plunging now that peace is breaking out all over the place.
Well, there is actually another red quote, which is the VIX itself, which has been cut by more than 50% since the all-too-brief excitement of early March was upon us.
As for Bitcoin, I did a premium post about it last night, and the /BTC futures have sealed their gap up nice and neat. Unless it starts falling, well, pretty much immediately, the entire Bitcoin analog can be hurled into the dustbin.
The year 2026 has been three general moves: a slow grind until early March, a sharp, short plunge for the rest of March, and an unrestrained bull-fest for every single moment ever since.
It’s dismal, from my point of view, but there we have it. As I’ve mentioned, I’ll be utterly distracted with familial stuff from now until Sunday night, so you’ll be getting demi-Tim for that timespan, although I’ll try to best to keep things interesting.
Frankly, I do not mind being pulled away from this market one little bit!
