“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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