There’s always a bull market somewhere...

  There’s Always a Bull Market Somewhere… Dear reader, The big headline of this week was the continued pullback in the stock market – specifically tech stocks. The Nasdaq 100 fell more than 10% from its high and officially into correction territory for the first time since October. The S&P 500 is down more than 5% from its mid-July high and also sitting at its lowest level since October. The hardest-hit tech sector has been the semiconductors. The VanEck Semiconductor ETF (SMH) is down more than 20% from its July 11 high. That means in just three weeks’ time, the fund swung from all-time highs to a bear market. But stocks weren’t the only asset class making big moves… The bond market broke out as yields plummeted – with the 10-year Treasury yield falling to 3.86% on Friday from its April high of 4.74%. It’s the lowest yield we’ve seen since the first week of February and just above the 52-week low of 3.78%. Remember that as bond yields fall, bond prices increase. So it shouldn’t be a surprise that the iShares 20+ Year Treasury Bond ETF (TLT) climbed nearly 5% throughout the week. Other sectors held up well in the wild week, too, and even hit new yearly highs on Friday – including consumer staples, real estate investment trusts (REITs), utilities, and health care. The gold exchange-traded fund (ETF) – SPDR Gold Shares (GLD) – traded just below a record high. And overseas, the iShares MSCI Malaysia ETF (EWM) has continued to hit new highs. As you can see, there are always bull markets somewhere. They’re just harder to find at times. That’s what we’re seeing today. But rest assured that I remain hard at work continuing to uncover the best possible opportunities in the stock market. And I’m still as bullish as ever on stocks over the long term. While we continue to ride the waves, let’s recap everything we talked about here in Market Insights this week… Monday: The Bitcoin 2024 conference in Nashville featured a keynote speech by former President Donald Trump – who pledged not to sell government-held Bitcoin (BTC-USD) and to promote U.S. Bitcoin mining. Despite the attention, it didn’t trigger a predicted massive Bitcoin price rally. [Click here to read Bitcoin Could Make or Break the Election.]( Tuesday: The “America First” narrative in the upcoming election and the disruptions caused by the COVID-19 pandemic are driving the resurgence of reshoring – a strategy that could transform America’s manufacturing landscape. [Click here to read What Reshoring Means for Your Portfolio.]( Wednesday: The summer months typically lack big headlines in the stock market. But that hasn’t been the case this year. On the latest episode of the SteadyTrade Podcast, Tim Bohen and I dissect some of the hottest stories of the last week and what they mean for your portfolio. [Click here to read A Peek at Our Watch List: Our Favorite Small-Caps]( and catch up on the latest podcast episode. Thursday: Regular readers know that I believe a key to my long-term success in the stock market is my top-down approach to investing. This strategy has proven incredibly successful in my 20-plus-year investing career. Imre Gams agrees, and in this article he talks about his strategy in more detail. [Click here to read The Key to Uncovering the Best Stocks in the Market.]( Friday: It’s finally time for the narrative to flip. Lower interest rates combined with several years of underperformance has the biotech sector poised to become a leader in the coming years. And long-term investors should be prepared. [Click here to read Biotechs Are Setting Up for an Incredibly 2024.]( Here’s to the future, [McCall's Signature] Matt McCall Editor, Market Insights   © 2024 Centurion Publishing 13809 Research Blvd, Suite 500, Austin, TX 78750   *Results are not typical. Past performance does not indicate future results. All investing carries risk. Our Privacy Policy, along with our Term & Conditions, governs your use of this site. By using our site, or by accepting the Terms of Use (via opt-in, checkbox, pop-up, or clicking an email link confirming the same), you agree to be bound by our Terms & Conditions and our Privacy Policy. If you have provided personal, billing, or other voluntarily provided information, you may access, review, and make changes to it via instructions found on the Website or by replying to this email. To manage your receipt of marketing and non-transactional communications, you may unsubscribe by clicking the “unsubscribe” link located on the bottom of any marketing email. 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