Afternoon Note
What a difference a day makes. Of course, this day actually began yesterday around 9:45 when stocks gapped down and sold off in a blink. That flash crash was a culmination of a ton of uncertainty and lots of negative media chatter right before the open. Be careful folks. Lots of people in the financial media have so much disdain for the administration and its policies, they are always going to see a worst-case scenario, not caring what happens to your portfolio.
This isn’t to say there aren’t concerns, but so many people that have been wrong about so many things speak with such confidence about the doom around the corner. The good news for them is that occasionally, they will be right. The good news for investors is 90% of the time they are wrong, and mostly because they are saying what they hope happens, even when evidence suggest otherwise.
I’m loving this action, but the market is range bound. The big upside test comes at Dow 26,500. I’m loving the action in Materials and Industrials, even after a big call from Goldman to close Caterpillar (CAT). I think the call is very late, and would hold, and be ready to add soon.
S&P 500 Index |
+1.56% |
Communication Services (XLC) |
+1.59% |
Consumer Discretionary (XLY) |
+1.71% |
Consumer Staples (XLP) |
+0.78% |
Energy (XLE) |
+1.81% |
Financials (XLF) |
+1.78% |
Health Care (XLV) |
+1.01% |
Industrials (XLI) |
+1.56% |
Materials (XLB) |
+1.79% |
Real Estate (XLRE) |
+1.04% |
Technology (XLK) |
+2.08% |
Utilities (XLU) |
+1.00% |
Let’s see how the rest of the session goes.
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7/8/2025 1:33 PM | Seesaw Session |
7/8/2025 9:55 AM | MORE SUMMER BLAHS THAN FEAR OF MYANMAR'S TARIFF |
7/7/2025 1:27 PM | Trade Talks and Profit Taking |
7/7/2025 9:51 AM | LOVING MOOD |
7/3/2025 9:45 AM | NICE & STEADY AS SEMIS CONTINUE TO CHIP IN |
7/2/2025 1:44 PM | Materials' Strength Continues |
7/2/2025 9:38 AM | BARNBURNER |
7/1/2025 1:29 PM | Rotation |
7/1/2025 9:45 AM | FEAR OF MISSING OUT IS CREEPING IN |
6/30/2025 1:24 PM | Steady As She Goes |
6/30/2025 9:54 AM | SUMMER RALLY STARTS |
6/27/2025 1:35 PM | Reaching New Heights |
6/27/2025 9:39 AM | THERE'S MORE! |
6/26/2025 1:10 PM | S&P Approaches Record |
6/26/2025 9:51 AM | CHIPS MOMENTUM CONTINUES |
6/25/2025 1:42 PM | Tech Stocks Power Nasdaq 100 |
6/25/2025 9:47 AM | CLIMBING MOUNTAINS OF WORRY |
6/24/2025 1:47 PM | Peace Rally |
6/24/2025 9:48 AM | PEACE THROUGH STRENGTH: THE MARKET LOVES IT |
6/23/2025 1:47 PM | Getting Some Resolve |
6/23/2025 9:51 AM | BRACING |
6/20/2025 1:29 PM | Second Triple Witching |
6/20/2025 9:38 AM | POWELL BLEW IT |
6/18/2025 12:41 PM | FED Day |
6/18/2025 9:45 AM | ROOM WITH A VIEW |
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