Asks Michelle to explain the 19% KOSPI sell-off over two days - whether due to Iran conflict, AI fears, or profit-taking.
Sam
Michelle Gibley
KOSPI sell-off is a mix of factors: South Korea's LNG import dependence, stronger dollar, retail speculation on margin, and foreign investors leaving.
Asks Joe if KOSPI concentration risk (Samsung/SK Hynix) signals warning for US markets.
Sam
Joe Mazzola
Excessive margin speculation common in Asia. US has insulation from energy conflict due to domestic natural gas and WTI holdings.
Asks Michelle what part of conflict is most important for oil markets, inflation, and US markets.
Sam
Michelle Gibley
Most important chart is traffic through Strait of Hormuz - currently no oil going through.
Asks Joe about key levels for US equity markets after breaking 100-day moving average.
Sam
Joe Mazzola
Tested December lows at 6720, held and bounced. Holding 100-day moving average and December low is important.