We are now at Day 72 of the Department of Homeland Security being unfunded..
The House GOP is calling this “Brutal Week” because they have to fix the border and the DHS budget by Thursday or the lights go out for real..
While they fight in DC.. a massive corporate war for the “Western Power Grid” just went live this morning..
38 utilities are picking sides between two different markets to see who gets to control the electricity from Arizona to Washington state..
California is betting on $350 million in savings.. but only if they can keep the data centers from eating all the power first..
On the trading floor.. the S&P 500 is walking a tightrope at the 7,100 level..
We just hit an RSI of 70.. which is the technical way of saying the market is “dangerously overbought”..
The rally is getting thinner every hour.. only a handful of tech giants are holding up the entire index while the rest of the market slides..
Over at the Fed.. Kevin Warsh just signaled he’s ready to rewrite the rulebook on inflation..
He wants the Fed to ignore “temporary” price spikes from the Iran war and focus on AI productivity instead..
This would be a massive pivot from the Powell era.. essentially moving the goalposts to keep rates from spiking..
While the Senate debates his “independence”.. the 10-year Treasury yield is creeping up because the market doesn’t believe the “easy money” talk yet..
One Monday afternoon in a committee room.. one at a power plant.. one at the Fed..
The government is running out of money.. the grid is running out of capacity.. and the Fed is running out of excuses..
We are watching the transition from a stable economy to one built on emergency pivots and AI hype..
Watch the 7,150 level on the S&P.. if we don’t break it by the close.. the “Gamma Trap” snaps shut.