The market held its own last week and we’re now even seeing the worst areas out there bounce as a bit of stability shows up in the banking sector. That said, on the charts, not much has changed—some growth stocks are acting resiliently but the broad market is still buried. We’re open to anything, including the scenario where an easier Fed combined with limited bank reverberations leads to a sustained advance. Right now, most of the market is hanging in there, but we need to see continued buying before changing our stance. We’ll leave our Market Monitor at a level 5 today.

This week’s list is a bit broader with some turnaround situations out there. Out Top Pick is an old pandemic darling that, after crashing, has spent months bottoming out and is now perking up

This week has been another volatile and news-driven one, with some quiet trading Monday and Tuesday, wild action with the Fed and the Treasury Secretary’s commentary on Wednesday with another wild swing on Thursday (up, then back down) and some selling this morning. Interestingly, though, the major indexes haven’t moved much net-net—as of this morning, the S&P 500 is flat, the Nasdaq is up less than 1% and the broader indexes are off less than 1%.