Patience, Grasshopper 🦗

The market is handing you a genuine dislocation today — not a crash, but a stress-tested setup where selective buyers can find value if they keep protection in place. The RSI (a momentum gauge) at 30.74 is near oversold territory, while the 10-year Treasury yield has climbed 12 basis points over the last 10 sessions, squeezing the case for expensive multiples. The trailing P/E sits at the 85.8th percentile of its own 20-year history — historically rich even as the market pulls back. Energy is the one sector with positive momentum today; pair any new exposure there with protective puts on QQQ, which remain affordable with VIX (a volatility gauge) at 19.11.