A Flip In Sentiment, Driving Through Fog, And 'Maybe' Setting Up For Santa (video)

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Attention Non-Client subscribers: Nothing in this video should be construed as investment advice. The examples expressed relate to portfolio management we perform on behalf of our clients, and, again, under no circumstances are they to be considered recommendations to the viewer.

Quotes of the Day: No Letup In Sight

Per yesterday’s video, at the moment it doesn’t look like all that capex spend is going to let up in 2026:

The Great Spending Race -- OR -- Don't Invest Heavily In Heavily-Investing Companies (video)

Dear Clients, this is a particularly important commentary to take in (start to finish) when you have a few minutes!

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Attention Non-Client subscribers: Nothing in this video should be construed as investment advice. The examples expressed relate to portfolio management we perform on behalf of our clients, and, again, under no circumstances are they to be considered recommendations to the viewer.

Quotes of the Day: On Human Nature

As I forever study market and economic history (or history in general), I never cease to be amazed at how, while technology has evolved beyond our wildest dreams, human nature has clearly not evolved by a single iota.

In other words:

Charts of the Day: Still Harping on Breadth, And a Quick Note on the Fed

I hate to keep harping on stock market breadth, but it's been remarkably stinky of late... Once again, this morning, the headline averages (SP500, Nasdaq, Dow) are seeing green, while the majority of stocks are bleeding red.

Quick Commentary on Breadth, on Fed Odds, etc. (video)

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Attention Non-Client subscribers: Nothing in this video should be construed as investment advice. The examples expressed relate to portfolio management we perform on behalf of our clients, and, again, under no circumstances are they to be considered recommendations to the viewer.

Charts of the Day: Not-So-Fresh Breadth

Looking at the market action today:  US stocks up -- while 45% of SP500 members, same for the Nasdaq, are in the red -- I'm inspired to update our breadth-trend charts for you.

First up is the SP500 (white) versus the SP500 Equal Weight (green).

SP500 is historically (these days) dominated by a small handful of stocks, while the SP500 Equal Weight gives each member equal weighting... I.e., per the below, all boats are not rising with the tide of late: