Brian Szytel reports from West Palm Beach on a volatile market stretch driven by stronger-than-expected jobs data, renewed tech weakness, and Middle East uncertainty. The Dow rose 86 points while the S&P 500 fell 0.25% and the Nasdaq dropped 1%, as equal-weight S&P outperformed cap-weighted by over 100 bps and the 10-year yield fell to 4.52%. He notes the tech sector’s nine-week 47% rally is seeing froth and sharp daily swings, alongside widening market breadth and sector rotation. Szytel urges investors to focus on fundamentals rather than popularity and dismisses warnings of simultaneous “cycle” peaks as largely unknowable and hindsight-driven. Economic updates include slightly softer NFIB optimism (still near historical average), a narrower April trade deficit to $55B, and existing home sales up 3.2% to about 4.2M.

00:00 Market Rollercoaster Recap

01:18 Tech Selloff And Rotation

02:16 Stick With Fundamentals

03:16 Ray Dalio Cycle Warnings

04:45 Quick Economic Calendar

05:39 Wrap Up And Sign Off

Links mentioned in this episode:

TheBahnsenGroup.com