May 11, 2026
The S&P 500 is now up more than 17% since its late March low, and it’s 7% above its 50-day moving average. The tech-heavy Nasdaq 100 is double that at 14% above its 50-DMA!
As shown below, the last time the Nasdaq was this far above its 50-DMA was in late 2009 in the early days of the post-Financial Crisis recovery.
Within Tech, the Semis continue to soar to levels not seen since the Dot Com Boom and Bust of the late 1990s/early 2000s.
As shown below, the Philadelphia SOX semis index is currently 33% above its 50-DMA, a level only hit three other times: December 1998, March 2000, and November 2002.
Below is a look at the best performing stocks this year in our AI Infrastructure basket (available with a Bespoke Institutional membership). There are nine stocks up more than 100% already!
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May 8, 2026
The S&P has continued to leg higher in a picture-perfect breakout that now looks less like a “V” and more like a checkmark.
The market is now very extended and overbought, but when these type of rallies into uncharted territory eventually cool off, a new trading range is usually established at higher levels. It’s what long-term bulls want to see.
We cover everything going on across markets and the economy in this week’s Bespoke Report newsletter.
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May 8, 2026
See what’s driving market performance around the world in today’s Morning Lineup. Bespoke’s Morning Lineup is the best way to start your trading day. Read it now by starting a two-week trial to Bespoke Premium. CLICK HERE to learn more and start your trial.
“There is nothing new in the world except the history you do not know.” – Harry Truman
Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.
As shown below, we’re entering the last trading day of the week with all of key US index ETFs still in overbought territory:
Gas prices continue to spike with the average price for a gallon of regular unleaded up to $4.55/gallon nationally. Ten days ago near the end of April, prices were at $4.17/gallon, so they’ve seen another meaningful pick-up recently.
Just before the Iran War, gas prices had fallen down into the $2s. Now they’re closer to $5/gallon than $4.
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