July 7, 2025

As for the stock market specifically:  The short week provided some fireworks in the upward direction. Few will complain about the market, the weather, or a holiday week.

 

We saw the Nasdaq and S&P 500 reach record territory again. I see no reason to disagree with the market action, which brings to mind the famous market adage from Martin Zweig: “Don’t fight the tape”. 


 

 

The President signed the tax bill last week. I won’t go into the politics regarding the situation, and, as always, contact a competent CPA or tax attorney for specific tax advice, but those I trust find it neither the greatest thing since sliced bread nor the end of the world as we know it.

 

To me, the most important accomplishment of the bill is continuance of the current tax structure that has been in place since 2017.

 

A few of the high-points contain the four major promises of the presidential campaign last year – no tax on overtime, no tax on tips, no tax on Social Security, and a tax write-off for automobile purchase interest.

 

The law contains provisions for those promises to some extent, and as usual the law also limits access to 100% of taxpayers (see my admonition above to discuss this with a CPA or tax attorney).

 

The law has plenty more political components to it, but that is the purview of other venues, not ours.

 

It was a good week for the bullish percent indicators. Field position still is in a good place, and I don’t see a need for anything else to change. I continue to recommend WEALTH ACCUMULATION strategies in all areas..

 

Remember, Xs means OFFENSE or wealth accumulation, while Os means DEFENSE, or wealth preservation.