☕️ Market pullback… or just a breather? 🤔

Good morning! 👋 

It’s Hayley here as Keith is on the road, and I can only imagine that wherever he is, he’s snacking on a packet of McVitie’s biscuits, a recent fave of his! 😀 

And just like that, all three indices — the S&P 500, the “snazzy nazzy”, and the Dow Jones — are red this morning in premarket trading after a strong rally yesterday that saw all three finish the day higher. 

Hmmm. 🤔 

Seems like Keith was onto something with his post on X last night. 

He called out that the “go-fast crew” — the short-term traders and momentum chasers — might try their hand early, and that’s exactly what happened. The markets jumped, volatility traders stepped in, and now we’re seeing some of that energy unwind.  

It’s game time!  

Keith would want to remind you that this is perfectly normal market behaviour. Every seller has a buyer, and every buyer has a seller... that’s how the game stays in motion. 

Or, as he likes to say: 

And if you need proof, look no further than the S&P 500, which has returned more than 31% since the April lows. Not bad for a market that so many said was “running out of steam.”  

Investing in optimism pays off — literally and figuratively.  

And now we’re back in earnings season.  

Good! 👏 

It means the world’s best companies can continue to power up, and the markets can stop lurching from headline to headline. 

The bank stocks are up first, with team Dimon reporting today alongside Citi and Goldman Sachs.  

The numbers might even be out by the time you read this!  

As Keith said in yesterday's Five with Fitz, we’re expecting a super strong earnings cycle ahead. 

Specific companies will set the tone, and that’s gonna make the existing split between top-tier companies and the weaker alternatives even more pronounced. 

Buy the best, ignore the rest.  

We’ve seen this playbook so many times, and that’s why the path of least resistance remains higher. 

As always, let's MAKE it a great day. 

You got this - I promise! 

Hayley E 😀