Cracks Starting To Show In The Market? | Lance Roberts

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**Lance Roberts** (0:57)
But if we take out this kind of dotted dash blue line, we're going to get into a region of the market where there was not previously a lot of buy and sell action, pretty light volume. That's going to open up that risk for correction down to the 100-day moving average which is around 71.8 on the S&P 500 And this kind of crack of this kind of compression with a momentum cell signal in place, certainly puts some downward pressure on the markets.

**Adam Taggart** (1:33)
Welcome to Thoughtful Money. I'm Thoughtful Money founder and your host, Adam Taggart. Welcome you back here at the end of the week for another weekly market recap featuring my good friend, the Peregrine portfolio manager, Lance Roberts. How are you doing, Lance?

**Lance Roberts** (1:45)
Well, I've been called a penguin in a while.

**Adam Taggart** (1:47)
So yeah, a peregrine. Obviously, people are probably thinking about the peregrine falcon. The word actually means wandering or traveling, which I thought appropriate because we're hopefully going to keep this recap this week a little bit shorter than normal because I am going to get out of here and go wander and travel with my wife for the next week. We are celebrating our 25th anniversary, kind of in arrears belatedly. We had it last year, but we punted to 2026 because we were having to move from California to Nevada.
We're now going to go to Glacier National Park and have a wonderful hiking, biking, and rafting week together.
Now we get back and we're going to have to move again, so we didn't quite dodge the moving bullet again here, but hopefully we're going to have a wonderful time. Folks, as a reminder, I will not be here on this channel next week. Normally, I try to scramble and have some videos to release while I'm gone. This is the first time in years, folks, that I am just fully disconnecting, and there won't be videos for much of next week. There is one bonus one that is sneaking through. I got a call yesterday from Lacey Hunt, who has just released a very important report and said, it's very important to him to get the message out to the greater world. Lance, after I'm done with you here, I'm going to interview Lacey and then I'm going to hop. So if you're watching this video on Saturday when it releases, folks, the next day you'll have a video with David Hay. It's a great one. And then the Tuesday after that, you'll have Lacey Hunt. But then I won't be back until the following Tuesday. So you'll have to find your macro information elsewhere. But please, folks, don't forget about me. So I shared on the channel with Lance last week. It is a pervasive fear I've had for years that if I don't release a video, everyone's going to go find a different place to get their financial news from. Hopefully, I'll come back when I return. But anyways, Lance, I'll see you in a week. All right. Sounds good.
All right.
So let's see. I guess just in the spirit of grabbing the third rail right off the bat here, let's pick up where we left off last week, Lance. I actually got a bunch of emails and comments on the video doing a wellness check with me to make sure I was okay after some of your slings and arrows last week, Lance. But as everybody knows, you and I are like brothers. Most of the jabs are in jest.

**Lance Roberts** (4:17)
I remember what we were jabbing about.

**Adam Taggart** (4:20)
Well, so I was asking you some questions about potential vulnerabilities in the AI trade and you said, hey, Adam, don't scare everybody out of their positions, to which I responded, well, I'm not trying to do that at all, but we have a market that is being driven almost at an unprecedented level by a single trade, and so we should watch that trade very closely because if that trade stumbles in any way, everyone's going to feel it, right? Oh, yeah. Absolutely.