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Things were going so well in the market. Last week I gushed about the strong 3.2% first quarter GDP report. Then an outside event had to come in and spoil the party, at least for now.

The new all time high is a significant milestone. Although the S&P 500 hasn’t hit new highs quite yet it is only just about .01% from the mark. The new high is significant because it negates any possibility that we have been in a bear market since September, when the previous high was established.

With markets expecting a deal right around the corner, the Trump administration signaled its frustration by threatening to raise tariffs on roughly $200 billion of Chinese imports to 25%, from 10%, last Friday.

Three stocks in the portfolio reported earnings.

Prepare yourself for more ups and downs in our medtech & biotech stocks if this debate heats up. I’m not planning to step out of the space since I think this will pass and we can still do quite well with these types of stocks.

From a top-down perspective, the market is still looking good, as both the intermediate- and longer-term trends are up and the vast majority of stocks (and leading stocks) are still in uptrends.

The overall market remains in good shape, with both of our trend-following indicators—the Cabot Tides (intermediate-term) and Cabot Trend Lines (longer-term)—currently pointing up. We’re still keeping an eye on small-cap indexes, which have still not eclipsed their late February peaks, as well as the Nasdaq, which has found repeated resistance near 8,000. But overall, there’s no question that the trends are up.

Crista has several portfolio updates and changes today.

It’s been a decent week for the market, with the S&P 500 and Nasdaq each up modestly

It’s not entirely unusual for a new CEO at a company to change the dividend policy due to having a different idea of how the company should be using its cash flow.

It’s been another constructive week for the market, though that’s not necessarily due to the major indexes, which are barely up (0.25% or so) since last Friday’s close.

As we enter the second quarter, emerging markets are on solid footing in a constructive uptrend as EEM remains just above both 50-day and 25-day moving averages. In light of this we are positive and increasing our allocation.

The big news that affected the market this week was, of course, the dreaded yield curve inversion. This happens when the 10-year Treasury yield goes below the 2-year yield.

As for the market, it’s been an interesting week and a crazy month. After last Friday’s plunge, stocks have bounced back strongly, with the S&P 500 and Nasdaq both up more than 3%.

It’s one of those special days in the market where the Fed will make a highly anticipated decision on interest rates. It is widely expected that the Central Bank will cut the Fed Funds rate by 0.25%.

As summer morphs into fall and Wall Street returns to full operation, I’m seeing some welcome signs of buying in the cannabis sector. So today we’ll join them, by averaging up in two of our holdings.

One of our portfolio stocks moves from Strong Buy to Hold.

The market was mostly quiet (though also mostly positive) for the first four days of the week, though volatility picked up today after some additional tariffs from China and Fed Chair Jerome Powell’s speech in Wyoming.

Remain cautious, but stay open minded. We’re encouraged by the recent action from the market, including some of the power and breadth of the rally.

The S&P 500 (SPX) stock index rose to new all-time highs in July, commenced a pullback during the final week of that month, then traded between 2840-2940 in a very orderly pattern during August. For that, I am grateful.