There have been lots of headlines about cannabis lately.
From the bipartisan support in government, to states looking to legalize at least for medical, to Mexico having a pro-cannabis protest, the buzz leans towards a change in the law.
Currently, there are 39 states that have legal medical laws and 23 states that have legal recreational laws.
Today, this was announced- Pennsylvania Lawmakers Approve Bill To Legalize Marijuana Just One Day After It Was Introduced: "Right now, Pennsylvanians who use cannabis are either crossing state lines to purchase from other legal markets or buying from the illicit market.”
I cannot imagine any other circumstance where the Federal government is so out of touch with the will of the people.
Plus, in the land of tariffs, cannabis avoids all of that as it is readily grown in the US.
Imagine the revenue not just from the product itself, but then add packaging, marketing, distribution, sales and tourism. It could add a minimum of 125 billion a year in money to the government.
The headline above is what investors are looking for.
Blackrock (NYSE:BLK) showing interest aligns with not only the headlines, but also the alcohol and tobacco budding interest.
Then add the big pharma…
I recorded a 2-part radio broadcast on KSFRFM Santa Fe interviewing a New Mexico regulator and a local cannabis store owner. Part 1 airs May 7th.
You know I love good stories, but I also love to look at charts to help with market timing.
MSOS is the ETF and the first US-listed actively managed ETF to provide exposure solely to American cannabis and hemp companies, including multi-state operators (MSOs).
The ETF currently allocates 81% of its holdings in the US dollar.
That means that the ETF can put those dollars to use and increase the holdings in other cannabis related companies when it is appropriate to do so. 
On the Daily chart,
MSOS entered a recovery phase, cleaning the 50-DMA.
The red horizontal line with the January 6-month calendar range low at 3.38.
MSOS outperforms the SPY.
And momentum tells us that there is a bullish divergence with the dots very close to the 200-DMA while the price is far from it (4.80). 
The weekly chart is even more interesting. The last time the price traded above the 50-WMA was in May 2024.
Should MSOS clear 5.00 we know something is up.
Bottom line is that investing in MSOS continues to be a lottery ticket.
However, 2.00 is where the price bleed stopped.
Through 3.40, there is resistance, but like any trade, having stops, targets and trailing stops is advisable.
ETF Summary
(Pivotal means short-term bullish above that level and bearish below)
S&P 500 (SPY) 560 support 570 resistance
Russell 2000 (IWM) 200 pivotal
Dow (DIA) 400 support 418 resistance
Nasdaq (QQQ) 480 support 490 resistance
Regional banks (KRE) 55 support 60 resistance
Semiconductors (SMH) 208 support 230 resistance
Transportation (IYT) 60 key area
Biotechnology (IBB) 124 near-term support 130 resistance
Retail (XRT) 70 key to hold. 72 resistance
Bitcoin (BTCUSD) 89k support 95k pivotal 110 resistance