Joel Elconin - Market Momentum Has Been Lost… Is The Bull Run Over?

Mar 5, 2026

Joel Elconin, co-host of Pre-Market Prep and founder of the Stock Trader Network, offers market commentary on slipping momentum. He discusses choppy major averages and geopolitical pressure driving oil and inflation. He breaks down Nvidia’s post-earnings drop, Berkshire’s cash moves, software’s relative strength, and whether gold and silver have topped out.

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INSIGHT

Market Momentum Has Been Lost

Market momentum has faded in early 2026 with choppy S&P and Dow action signaling waning investor appetite for risk.
Joel ties this to geopolitics, rising oil, layoffs, and AI-driven job disruption as compounding negatives for sentiment.

INSIGHT

Berkshire Accumulating Cash Not Buying Deals

Berkshire Hathaway is accumulating record cash and buying back stock while also trimming bank holdings, signaling scarcity of attractive acquisitions.
Joel highlights $400 billion cash and 13F evidence of selling in bank names like Bank of America.

INSIGHT

Big Tech Isn't A Guaranteed Safe Haven

Big tech may not be the safe haven this pullback because the market's hopes for rate cuts evaporated and leaders like Nvidia showed false breakouts.
Nvidia beat earnings, broke above 194 then rolled back to ~182, illustrating leader-driven market fragility.

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In this episode of The KE Report, host Cory Fleck sits down with Joel Elconin, co-host of the Pre-Market Prep Show and founder of the Stock Trader Network, to dissect a market that appears to be losing its footing. With the major averages showing signs of a "gradual top," Joel provides a candid, sobering assessment of the macroeconomic and geopolitical forces currently rattling investors.

Key Discussion Points:

Loss of Market Momentum: Why the choppy action in the S&P 500 and Dow suggests a waning appetite for risk among investors in early 2026.
Geopolitical Catalysts and Inflation: The direct link between global conflict, surging oil prices, and the fading hope for near-term rate cuts.
The Nvidia Reality Check: Analyzing the "false breakout" in NVDA and what it means when a market leader beats earnings but still trades lower.
The Berkshire Signal: Why BRK.B is accumulating record cash and selling off bank holdings instead of seeking new acquisitions.
Software vs. Hardware: A look at the resilience in software names like MSFT, CRM, and ORCL as a potential "flight to quality" amidst hardware volatility.
Precious Metals Outlook: Assessing whether gold (GLD) and silver (SLV) are hitting "blow-off tops" or remains a viable safe haven during international instability.

Click here to visit Joel’s PreMarket Prep website - https://www.premarketprep.com/

Click here to visit the Stock Trader Network - https://www.stocktradernetwork.com/

Stocks Mentioned: S&P 500 (SPY), Nvidia (NVDA), Berkshire Hathaway (BRK.B), Bank of America (BAC), Microsoft (MSFT), Salesforce (CRM), Oracle (ORCL), Exxon Mobil (XOM), Apple (AAPL), Alphabet (GOOGL), Amazon (AMZN), Meta (META), Tesla (TSLA), Gold (GLD), Silver (SLV).

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.