April 26, 2026
Mish's Daily
By Mish Schneider
X is back @marketminute!!!
The Market Is Asking and Answering
Right now, there are four questions driving investor thinking:
Let’s break it down.
Tech: Strength with a Condition
The tech space, particularly semiconductors, represented by SMH looks poised to continue higher.
But not in a straight line.
➡ Expect gently higher prices with normal pullbacks
The key condition?
👉 The consumer must remain resilient
That brings us to Granny Retail XRT.
If retail holds up, tech likely continues to lead.
If not, expect more volatility in the sector.
Yields: A Market in Limbo
Yields are currently in a holding pattern.
They are not breaking higher, but they are not collapsing either.
However, there is a growing macro pressure point:
That raises the possibility that:
➡ The Fed may eventually need to ease policy
For now, though, yields remain range-bound — and markets are watching closely.
Oil: Holding the Key Level
Oil continues to show strength.
WTI looks poised to move higher — as long as it holds above $92 a barrel.
That level is critical.
➡ Above it → continued upside pressure
➡ Below it → potential relief
Oil is not just an energy story — it’s an inflation and economic signal.
The Signals That Matter Most
With all of this in play, focus on three key indicators:
These will tell you whether the current environment remains supportive — or begins to shift.
Bottom Line
Tech can continue higher if the consumer confirms.
Yields are steady, but under pressure.
Oil is strong, with key levels in play.
But the real edge comes from watching the signals beneath the surface.
Note that this is different than our other YouTube channel featuring the Economic Modern Family.
Watch Joel Elconin and he interviews Sister Semiconductors-Show these to your kids!!!
Here is our latest EMF video
That is for financial literacy.
Mish’s Daily of Mish’s Market Minute on the MarketGauge YouTube channel under “shorts” is meant for the more serious self-directed investor.
They do, however, overlap.
PLEASE, go to our YouTube Channel, watch the content we have shared to date.
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Mish in the Media-Want to see more? All clips here
New 04-25-26 BNN Bloomberg Deep Dive on Where Markets Can Go
04-23-26 Maggie Lake Is food inflation about to become the market's next major trade?
04-24-26 Financial Compass Key Opportunities Across Commodities
04-25-26 Pre-Market Prep Joel, Sister Semiconductors and More
04-25-26 Financial Compass Key Opportunities Across Commodities
04-26-25 Business First AM Mish loves Semis if, the rest of the Family hang in there
Coming Up:
Vacation Until May 10th
ETF Summary
(Pivotal means short-term bullish above that level and bearish below)
S&P 500 (SPY) New all-time high
Russell 2000 (IWM) Consolidating near all time high but not through it
Dow (DIA) 489 pivotal
Nasdaq (QQQ) Following Tech lead
Regional banks (KRE) 68 support
Semiconductors (SMH) Wonder woman
Transportation (IYT) 80 now support
Biotechnology (IBB) Oops-broke the 50 DMA-
Retail (XRT) 84-85 now key to hold
Bitcoin (BTCUSD) If holds over 74k see 88k next
Every day you'll be prepared to trade with:
