The Market Just Broke Below A Critical Support Level | Lance Roberts

**Lance Roberts** (0:00)
We broke the 200-day moving average yesterday. That's the first break since last April. So we've gone 214 days without a break of the 200-day moving average. So that's certainly worth noting, and certainly worth paying attention to. Is this something you should panic over? No. We've had breaks before, and again, we'll go through the data. Breaks of 200-day moving average aren't the end of the world. But they are certainly suggesting that there's a good bit more market weakness that potentially may linger here for a while.

**Adam Taggart** (0:33)
Welcome to Thoughtful Money, I'm Thoughtful Money Founder and host Adam Taggart, welcoming you here at the end of the week. For another weekly market recap, featuring my good friend, the portfolio manager, Lance Roberts, Texas Ranger. How are you doing, Lance?

**Lance Roberts** (0:47)
I'm doing good. Texas Ranger was one of my favorite shows of all time growing up.

**Adam Taggart** (0:52)
Well, hopefully, you've heard the news. I don't want to be the one to break it to you, but Chuck Norris just passed away.

**Lance Roberts** (0:58)
I have not heard.

**Adam Taggart** (0:59)
I'm sorry to break it to you, buddy.

**Lance Roberts** (1:02)
No, that's sad. I mean, I know him personally. And I actually, when I was much younger in life, actually competed alongside him many, many, many decades ago.

**Adam Taggart** (1:12)
So, well, okay, now I can't not ask. Tell us about it. What was the guy like?

**Lance Roberts** (1:20)
Yeah, no, he was in a different way. I was much younger, so he's in a different weight class, but we were in the same arena. So I watched him fight up close and personal multiple times. So yeah, he's a great guy though. Super nice.

**Adam Taggart** (1:34)
I've heard super nice. And I mean, apparently a great fighter. Yes.

**Lance Roberts** (1:39)
Absolutely. No, he was fantastic. And one of my big idols growing up, him, Bill Wallace, Superfoot Wallace, and some other guys all from that general era. But yeah, just a very sad. No, I've not heard the news. So it is very sad though.

**Adam Taggart** (1:55)
It is very sad. And he apparently was like best buddies with Bruce Lee, like really in real life. Yeah.

**Lance Roberts** (2:00)
Absolutely.

**Adam Taggart** (2:01)
Yeah. Well, anyways, folks, sorry if I'm the one breaking the news to you here, but we lost a great in the action world. And I had a book of those Chuck Norris jokes, Lance, and they're all just fantastic.

**Lance Roberts** (2:18)
And the Chuck Norris jokes will live on.

**Adam Taggart** (2:20)
So, oh, oh, forever. In fact, I'm sure there's a Chuck Norris joke about how eternal Chuck Norris jokes are.

**SPEAKER_4** (2:27)
Exactly.

**Adam Taggart** (2:28)
All right. Well, look, I was going to introduce you before I heard the news about Chuck Norris as the crude portfolio manager, Lance Roberts, obviously. Yeah, obviously because it's very appropriate, but also because there is a lot going on in the world of oil. We'll get to that in just a second, folks. We're going to keep today's market update pretty concise, pretty short because if you're watching this when this is airing, I'm actually running the Thoughtful Money Spring Online Conference at the same time. It's running all day Saturday. If you didn't realize that and you want to join in, you still can. You can go buy your ticket and join the live event over at thoughtfulmoney.com/conference.
If you are watching this a day or two later and wishing you had seen the conference, don't worry. You can go to that exact same URL and buy a replay of the entire event. It will be available within a few hours after the conference being done tonight. It's an amazing event, folks. I won't go through the lineup right now. You'll find it at that URL, but 11 hours worth of amazing content. Absolutely the best value you'll find out there. But anyways, hope you come join us. All right. So, Lance, and our, you know, almost every discussion we have, I take good notes and you say, look, you know, news developments don't really matter to the markets up until the point they start affecting the markets projections for future earnings. We've been asking, you know, since the Iran war started, how much of an issue is it? Market-wise, and you've said, really not that much yet. Now, though, with the price of oil spiking, energy infrastructure getting hit, that's going to take likely years in some cases to rebuild. And now, you know, no clear sense of when the war is ending. Are earnings expectations starting to get materially impacted by this?