Small-cap records, chip stock gains, silver: Market Takeaways

Published: Thursday, January 15, 2026 · 10:15 PM  |  Updated: Thursday, January 15, 2026 · 10:15 PM

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00:00 Speaker A

here with the train day takeaways is Yahoo finance’s Jared Blicry. Jared.

00:02 Jared Blikre

Thanks. We got to talk some records first and uh let’s just get to that on the Wi-Fi interactive records galore. I’m going to start with the S&P 500 which did not close at a record, but I just want to show you the last nine months. This goes almost back to those uh scary April post-liberation day lows. You can see it’s up uh about 28, almost 30%, but it’s essentially flat lined over the last few months. Meanwhile, check out the Russell 2000 small caps, what they’re doing. This already went through its flat line consolidation period and it is broken to the upside. Here’s the S&P 400. These are mid caps in a very similar chart right there. It was going flat line forever, then it used the prior ceiling as a floor and then it just took off. Also want to show you the micro caps because those are hitting record highs too recently and look at that, 58%. That’s more than double the S&P 500. There’s also uh an Ishares ETF called IWC, that’s the ticker. It is up 10 straight days. You have not seen that since September of 2017. So smaller is bigger than large right now. And that was kind of my thesis from yesterday and this is just an extension of it.

01:21 Speaker A

You know what else we have to talk about? Chips.

01:22 Jared Blikre

Yes. Taiwan is in the news. So chips are ripping here. Semis are soaring and let’s take a look at a heat map of the chip sector. I’m going to show you what happened today first, and we’re talking about what? Another half a trillion in in investment in uh domestic chips. And here we see Taiwan Semi up 4%, Lamb research up 4%. Let me just show you the year to date here. We’re only midway through January. I’m going to sort by performance here so you can see some of the outsized winners. SanDisk up 72%. We’re halfway through January. Applied material up 43%, Intel up 30%, and the list goes on. You you see a few in the red here, but uh not many, not many at all. Broadcom, I think is a big uh uh exception and so is Nvidia. Nvidia’s just barely positive there. So you put it all together, chips looking very bullish.

02:18 Speaker A

You know it goes into those chips?

02:18 Jared Blikre

Silver.

02:19 Jared Blikre

Ah, yes. And guess what? Guess what hit a record high today? Silver futures once again up to $93 per ounce. And uh I was checking on the gold to silver ratio. That’s one of the ways that people measure silver prices and gold prices on a comparative basis and it is down to 51 from over 100 about six or nine months ago. So let’s see if we can find silver SI equals F in here. Well, even if we can’t, you’re just going to have to take my word it hit $93 and change. Um, and I do want to get to this because we were talking to Kenny Glick. He is the owner of Hit the bid. He operates a trading room, uh big silver proponent and he carries away silver he carries silver coins in his pocket every day. He had to say this about the silver rally.

03:00 Speaker B

And that’s a frightening thing when it’s a crowded trade. Yes. But also on the flip side, when people see this monster parabolic move, the shorters get involved. And again. And then they’re the fuel. Yeah show. Yes. Yes, and the shorters are generally they’re wrong, okay? Because they see this move just like in the markets, right? Just because something’s gone up parabolically, doesn’t mean it has to come crashing back down. It can consolidate just like that whole overbought thing. If something’s overbought, sure, but if it stays overbought for a given amount of time, it’s no longer over. The overboughtness is kind of dissipates.

03:47 Jared Blikre

And that episode is going to drop uh Tuesday. So we got a few days until then, but uh look out for it. Kenny Glick that was his sixth appearance on the show. And

03:59 Jared Blikre

I found the silver chart. Thank you, producers, in my ear. It was in the upper right the whole time. Year to date, it is up 30%. Let’s check out the one year. 194%. So basically the price has tripled over the last year. Put on two years and you got 302%. So quadrupled and that looks parabolic. And like Kenny was just saying, markets can go parabolic for a long period of time, but silver has been consolidating for a long period of time. And when it breaks out from a multi-decade base, uh this thing’s got some juice. That’s my thesis.

04:31 Speaker A

You want to end here on Bitcoin?

04:32 Jared Blikre

Let’s do that. We got a little time left. So let’s get the crypto board up. And Bitcoin is down 2%. I was just saying that it uh Bitcoin had just confirmed a short-term uptrend and hard to see on this chart, but basically, it broke this resistance level. So it is now stair stepping up. It’s using the prior ceiling as a floor. That’s what you want to see, so that’s normal, but I want to see 95,000 hold and this is the fledgling rally that the bulls have to win. As always, I do like to include the levels that I’m watching here. The liner, the make or break line for me is 110,000, so 15,000 away from that. You break that, it’s I think an easy trip to new highs.

05:13 Speaker A

All right, thank you, buddy. Appreciate it.

05:14 Jared Blikre

You bet.

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