This Market Still Has Room to Run, But Risk Is Quietly Building

ByTTT

Right now, the market is doing exactly what strong trends tend to do: it continues to move higher. The S&P 500 and Nasdaq remain in clear uptrends, and when the price is moving like this, I stay with it and let the trend play out. At the same time, areas like gold and silver have pulled back after a strong run, which is a normal part of the cycle. Not every asset moves at once, and understanding where strength is and where it is not is key to staying aligned with the market.

What matters most, however, is the bigger picture. Markets move in cycles, and while things may continue higher in the short term, the conditions for a larger reset are slowly forming. We are seeing signs of excess in areas like AI and speculative IPO activity, which historically align with later-stage market phases. This does not mean an immediate downturn, but it does highlight why staying focused on trends, risk, and capital flows is so important. The goal is not to chase every move, but to participate in strength while remaining prepared for when conditions change.

Published April 29, 2026

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Topics that Gary and I discussed include:

  • 0:00 – Intro
  • 3:20 – Current Market Setup (S&P, Dow, Nasdaq at record highs)
  • 6:15 – S&P 500 & Dow Technical Analysis + Bull Flag Patterns
  • 9:40 – Liquidity Crunch or Waterfall Sell-Off? What the Charts Actually Show
  • 13:10 – Commodity Super Cycle Outlook
  • 16:40 – Gold & Silver Analysis After the Correction
  • 21:50 – Gold Miners Earnings & Outlook
  • 25:05 – Junior Miners, Cash Hoards & M&A Expectations
  • 27:40 – Copper Market Technical View
  • 30:20 – Uranium, Silver & the Shift to Nuclear/Renewables
  • 33:50 – Dollar Index Critical — Bottom or Breakout?
  • 37:15 – Current Best Opportunities in the Markets
  • 41:30 – AI Bubble Warning & Massive IPOs Coming
  • 47:20 – Key Takeaway

Chris Vermeulen
Chief Investment Officer
TheTechnicalTraders.com

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