The KE Report

Joel Elconin - Market Gaps Down, Is There Anywhere To Hide?

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Joel Elconin, co-host of PreMarket Prep, joins us to break down another brutal day for markets across the board. 

 

Following last week’s warning signs, Joel returns to assess what now feels like a full-blown market unwind. Stocks are down sharply, volatility is surging, and investors are scrambling for safety - yet even traditional defensive sectors are cracking under pressure.

 

Key Theme: With equity markets collapsing, safe havens weakening, and algorithmic selling accelerating, we could be witnessing a structural shift in how investors interact with markets.

 

🔻 Market Breakdown:
  • S&P down nearly 6%, Nasdaq and small caps also getting crushed — a continuation of the post-Liberation Day selloff.

  • Circuit breakers in focus: Markets approached the 7% intraday decline threshold, reminiscent of March 2020.

  • Joel’s technical take: Watching the S&P Cash Index closely - with a potential downside target of 4,150 - 4,200 based on long-term retracement levels.

  • No signs of capitulation (yet): Joel stresses the selloff remains “orderly,” not panic-driven - but warns that real capitulation could trigger deeper damage.

  • Gaps aren’t the focus: Unlike previous pullbacks, Joel isn’t seeing actionable gaps in the futures market and cautions against assuming they'll be filled quickly.

  • A generational investor shift: The meme-stock era and rise of zero-day options have created a “casino-like” market dynamic, distorting fundamentals..

  • Cash is king right now - and Joel, like Warren Buffett, is comfortable sitting in yield-bearing instruments..

  • Safety trades showing cracks: Bonds and the dollar are catching bids, but even those trades aren’t bulletproof in this environment.

    • 💬 Big Picture Insights:
    • “The past 100 years of U.S. free trade policy was just overturned in a week — the markets are reacting accordingly.”

    • “We're not seeing capitulation - yet. But volatility is feeding on itself.”

    • “There’s nowhere to hide. Even defensive names and dividend plays are getting hit.”

      •  

      Click here to visit Joel’s PreMarket Prep website.

       

      Click here to visit the Stock Trader Network.

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