RTM: Stock Markets Lower, But Nothing Has Changed

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

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5 Second Run Down

Equities are down about 1.5 percent on the broader averages. We still about 1.5 percent from all-time highs. Financials ($XLF) and Semis ($SOXX) are the hardest hit. The Dollar is weaker as are yields.
^SPX Chart

^SPX data by YCharts

XLF, XLB and XLI have been weakest sector YTD, and have trended lower since the middle of March.

The dollar has been trending lower since December.
^DXY Chart

^DXY data by YCharts

Yields have been in the same range for a long time too.
^TNX Chart

^TNX data by YCharts

So what’s new today? Nothing. All of these trends have been place for some time. The Trump Trade can’t be getting called into questions because it has been dead for months now. Earnings and revenue growth will continue to be the backbone of this market.
S&P 500 Earnings Per Share Forward Estimate Chart

S&P 500 Earnings Per Share Forward Estimate data by YCharts

S&P 500 Sales Per Share Chart

S&P 500 Sales Per Share data by YCharts

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.