The Strait of Hormuz Crisis Provided a Temporary Distraction from a Collapse Brewing in AI Stocks. What Comes Next Could Get Ugly.

I’ve been highlighting this frequently the past few months. That Percentage Price Oscillator (PPO) at the bottom is about as rough a view as I’ve seen, maybe ever. That has everything to do with the dominance of index investing and algorithmic trading. And that is what helped spur the S&P 500’s transition during March. Not in direction, but in cause. It entered March concerned about the ability of AI to do more than change our lives. If stocks are to flourish, the companies changing our lives need to profit ...