Chris Puplava — research hub

Chris Puplava · Chief Investment Officer, Financial Sense Wealth Management; regular guest on the Financial Sense Newshour (host Cris Sheridan) reading market internals, energy and the Fed.

Sections: stock index · overall thesis · transcripts. Last updated 2026-SEP-11.

Stock & name index

▲ Positive

Ticker	Name	Current thesis	Research	Seen in	Total $k

► Neutral / referenced

Ticker	Name	Current thesis	Research	Seen in	Total $k

▼ Negative

Ticker	Name	Current thesis	Research	Seen in	Total $k

Overall thesis

In one line: near-term cautious, longer-term constructive — the Middle East / Ukraine energy shock is feeding inflation, yields and central-bank hikes while breadth collapses beneath a tech-and-energy-held index, so hold cash for "a little bit more of a flush," but there is no recession signal and the presidential cycle turns favorable after the midterms.

Breadth says the correction is well advanced beneath the surface. Only 33% of S&P 500 stocks above the 50-day (from 70–72%) and 57% above the 200-day (from ~75%); 5–6% of the index at 52-week lows near record highs; only tech and energy above their 50-day. (2026-SEP-11)
Energy shock → inflation → hikes. Houthi pipeline attacks, Ukrainian strikes on Russian refineries and a record-low SPR; refined products are the bottleneck (diesel/jet equivalent to >$150 oil). Futures price 90% odds of a Fed hike next week and 65% of a second by year-end. (2026-SEP-11)
Temporary supports. Tech buybacks enter the blackout window and the TGA drawdown (>$1T → $843B) plus Treasury buybacks are "temporary Band-Aids"; high debt-to-GDP means hikes widen deficits and push rates higher. (insights)
K-shaped economy. Asset owners benefit from higher rates; the low-end consumer, housing (home sales exceptionally low) and non-AI private investment (shrinking nominal and real) are hurting. (2026-SEP-11)
Constructive into year-end. Markets tend to bottom before the November midterms; gridlock removes uncertainty, and a Middle East resolution could spark a year-end run. (2026-SEP-11)

Transcripts

One dated page per appearance — each has its stock table (when securities are named), talking points, and the saved transcript. Newest first.

Date	Title / analysis page	Show	Link	Transcript	Actionable insights
2026-SEP-11	Markets Can't Ignore This Energy Shock	Financial Sense Newshour	▶ Listen	transcript	actionable insights

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