The Market Leadership Has Changed, Be Open To New Names

“Let money work for you, and you have the most devoted servant in the world…It works day and night, and in wet or dry weather.”    P.T. Barnum

Market Commentary:

The market leadership has changed, be open to new names

• The economy is slowing but still growing. Make sure the companies you are invested in are still growing and not declining in price in this environment.
• New all-time highs on S&P 500 and NYSE- while the bears are still finding problems and waiting for the right time to get invested.
• The number of 52- week low count has shrunk even further, signaling the bull market has more room to run. The Advance/decline looks great on NYSE, not so much on the NASDAQ.
• The new leadership in the market is clearly much more than tech, or the Magnificent 7.

 

Economic data and market clues:

The jobs numbers will be the most anticipated economic data this week.

The real story is in the job creation that this data does not include- small companies and the entrepreneurship spirit that leads the way in America.

The Fed’s path is much more certain. Chairman Powell was clear- rates will be lowered, probably by 50-75 basis points by year end. More rates cuts are in store for 2025 as well.

Selected current holdings

Magnet®:  A lot of new breakouts

AppLovin                               APP

EMCOR Group                      EME

Green Brick Partners            GRBK

FACTS:

SeviceNow              NOW

Amgen                    AMGN

Blackrock                BLK

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