October 14, 2024

Markets:

Stock futures were little changed Monday as investors waited to assess whether the next batch of key corporate earnings could power the market to more records.

On the data front, September retail sales and Sept. industrial production figures are out Thursday, followed by Sept. housing starts and building permits Friday.

Bond market, Fed closed for Columbus Day

Here’s what to know about Monday:

The stock market is open.
The bond market is closed.
The Federal Reserve is closed.
There are no key economic releases on the docket because of the federal holiday.

Portfolio:

Start of a new trading week and beyond excited!  With earnings season here we have monster opportunity in front of us.  Tech stocks are approaching all-time highs, led by Nvidia and Broadcom. As long as AI continues to drive innovation, the index should maintain its strength.  The Russell 2000 is the sector we are focused on right now.  The index is showing relative strength, particularly in financials and industrials. If it clears recent highs, a broader rally in small-cap stocks could be imminent.  The market remains in a very bullish phase, driven by strong earnings expectations, AI leadership, and economic confidence.  Our trend lines we continue to adjust and share with all of you have been spot on.  This week we will be able to adjust these lines and have a greater view of the runway developing.  Just stay patient and do not over allocate into any one position no matter how great you might think that trade is.  Just build and do not try to call for market tops or pullbacks.  This market has punished these folks for the past year.  Few understand the cycle being created by tech / AI over the next few years.  Take advantage of it.  

We enter the week holding setups in HOOD, NVAX, and TSLL.  We will be adding this week!  Be ready.  Queue is on fire!