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First, I have news!   

For years, I’ve written Mish’s Market Minute Daily to help decode market trends.  

Now I’m launching something new, a place to go deeper into trade setups, sector rotations, and the daily read of the market.  

Mark your calendar; Monday is the day. 

Secondly, speaking of timely information, Monday’s post on Chainlink was spot on. LINKUSD, BTCUSD and Ethereum all took off on Wednesday, so if you have not had the chance to read it, you should. 

Today’s topic is on solar. 

The American Clean Power Association had warned that tax would up to $7 billion to the wind and solar industry’s burden. 

Shares of renewable energy companies are rising after a tax on solar and wind was removed from the Senate version of the One Big Beautiful Bill Act. 

It still needs to clear the legislation. 

As it stands, the bill kills off incentives for domestic and utility-scale solar power as well as the clean energy production credit. 

Renewables made up almost 90% of all new power generation capacity in 2024. But it’s likely that even with all the changes in the bill, solar will remain the biggest technology used to implement new power generation capacity. All hands on the energy deck. 

Meanwhile, the charts tell their own story.  

The Daily chart shows a confirmed phase change to accumulation. 

However, the price stopped in its tracks at the January 6-month calendar range high. Incidentally, we will have a new calendar range for July shortly! 

TAN is outperforming the benchmark, and the momentum indicator is in gear. 

It is the weekly chart though, that has my attention the most.  

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The weekly chart shows TAN rising above the 50-week moving average for the first time since April 2023.  

This is an unconfirmed phase change, but more importantly, a reversal of a 2 plus year downtrend. 

That means we must see the 50-WMA hold for starters. 

It also means that while there is resistance along the way, the price suggests that we expect a further rebound in solar stocks. 

That makes complete sense to me, especially if oil begins to run above $68 a barrel. 

And, of course, because we need as many energy sources as we can get. 

Have a wonderful energetic July 4th. 

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