Despite the selloff on Friday (the S&P 500 declined 1.1% and AI-megacap Broadcom was particularly weak (-11%) after releasing lower margin expectations) the market remains in an uptrend and the AI trend is likely firmly intact (with more upside from industry leaders).
Growth continues to outperform value, the VIX remains relatively low and money continues to flow into markets (see SPY money flow index, for example, click link to launch the zoom-in-able report PDF)
The fed's third consecutive 25 basis point rate cut also bodes well for stocks (as treasury rates remain low, not inverted, and create positive conditions for the market).
As we head into year end, and investors reposition their portfolios, consider adding top long-term AI megatrend names on pullbacks (for example, most of the Mag 7 have recently pulled back and thereby make for more attractive entry points for long-term investors.
