4724: The Year Of The Fire Horse

Happy Lunar New Year! Last year was the Year of the Wood Snake, according to the Chinese Zodiac. In Chinese culture, the Snake is often seen as a symbol of wisdom, intuition, and transformation. The Horse is one of the most beloved zodiac signs. It is a powerful symbol of energy, freedom, and rapid success. Because the Horse is a social and high-spirited animal, its year is usually expected to be fast-paced and full of movement.

While the Chinese year 4724 has just started, 2026 has already been a wild ride in the stock market, with a dramatic rotation of market leadership from the Magnificent-7 to the Impressive-493. Despite the weakness in the Mag-7, the S&P 500 has held up remarkably well. It is continuing to do so despite the increasingly likely prospect that the US will attack Iran in a matter of days, which has raised the price of a barrel of Brent crude oil from around $60 at the start of the year to over $70 (chart).