The S&P 500 finished July up 2.2%, adding to what’s been a strong year so far.

This market has been a clear example of both a lockout rally and a thematic bull run. If you were positioned in the right sectors, you likely did really well.

But just as July ended on a high note, August kicked off on a rough note.

This past week was packed with big macro events. We had the Fed’s rate decision, fresh inflation data from the PCE report, and the latest jobs numbers. That mix of a still-stubborn Fed and a weaker-than-expected labor market created a tricky setup. Combine that with an extended market, and the result was a fast, sharp pullback.

None of this should really be surprising, if you looked at the market clues especially after nearly four months of non-stop gains.

Now we’re heading into the part of the year that tends to be more challenging. August is usually flat, and September is historically the weakest month before we enter the strongest season of the year.

Looking at history, the Nasdaq 100 often starts August with some volatility. Since 1985 follow a double-dip pattern with a W-shaped recovery into the end of the month.

This pullback ended a 68-day streak of the S&P 500 staying above its 20-day moving average. After such a long run without even a small pause, some weakness now is perfectly normal.

One thing to keep an eye on is how concentrated the market has become. Right now, Nvidia and Microsoft alone make up nearly 15% of the S&P 500. That’s the highest level of concentration we’ve ever seen for just two stocks.

The Mag7 are now roughly the same size as the bottom 433 companies in the index combined.

Is that a problem?

Not really. In fact, it makes sense.

These are some of the best companies…

Bull markets don’t die overnight.

At the start of July, I expected another strong month. And that’s exactly what we got. The market has been pushing higher without pause.

We’ve been hitting one all-time high after another. That’s what strong markets do. Bull markets don’t just end all of a sudden. They usually slow down gradually before reversing.

One sign of strength: we just hit a record streak of days above the 20-day moving average. It’s the longest run since 1997. The all-time record is 101 days from 1964. Right now, we’re at 62.

What happens after such a streak?

Usually, it keeps going. Markets that stay strong for this long tend to push even higher. Momentum is powerful.

Of course, this streak will end eventually.

This rally is not just about tech or a few big names. Many sectors are doing well.

In fact, we just hit another all-time high in the equal-weighted S&P 500. Plus, 10% of S&P 500 stocks hit new 52-week highs — the most since March.

There’s no major reason to think this bull market is about to end. But that doesn’t mean it goes up in a straight line. There will be pullbacks along the way.

Now, we’re heading into the…

Nothing seems to be able stop this bull market.

All bad news is shrugged off. The S&P 500 keeps hitting new all-time highs. It’s the 8th all-time of the year. And all-time highs rarely come alone.

As counterintuitive as it may sound, all-time highs are generally a positive sign for the market.

Everything is up in 2025.

The current market rally is not driven by only one or two asset classes. It’s happening across many different asset classes.

Gold is up 28% and Bitcoin is up 26% so far this year. This is the first time ever that these two assets have been the top two performers in the same year.

The US semiconductor sector has hit record weightings in the market.

Chip stocks like Nvidia and TSMC are now among the world’s most valuable companies.

They fueled the dotcom bubble in 2000, and now they are…

A Record-Breaking Quarter

The S&P 500 just wrapped up an incredible second quarter, up more than 10%.

That’s the best quarterly performance since 2023, and it’s even more impressive considering how rough things looked earlier in the year.

Both the S&P 500 and the Nasdaq hit new all-time highs at the end of June.

What’s driving this? Strong earnings, excitement about AI, and a sense that the economy is holding up better than many expected.

Fastest Recovery on Record

It’s hard to believe, but the market bounced back from a 20% drop faster than ever before.

Back in April, stocks were in bear market territory (for a brief moment), but by the end of June, they had not only recovered but set new records.

This kind of quick turnaround is rare, but history shows that nothing is impossible in the markets.

All-Time Highs Are Bullish

So far in 2025, the S&P 500 has already hit six new highs, and if history is any guide, we’ll probably see even more before the…

After a huge earnings gap, Oracle is setting up again.

This is exactly the kind of action you want to see: explosive move on volume, followed by tight, quiet consolidation. That’s classic accumulation. Institutions are buying. And they can’t hide. The volume tells the story.

This setup is happening in one of the strongest themes in the market: AI infrastructure. And Oracle is one of the key players in this story.

I'm planning to add to my position.

If you’ve followed me for a while, you know that Robinhood has been one of my must-own stocks.

• Incredible pace of innovation

• The rise of retail investors

• Crypto & stocks taking off

• Best UI/UX of any broker

That’s why it’s also one of my biggest holdings.

My initial position is almost a tenbagger by now.

There’s no doubt in my mind that we’re going to see all-time highs soon.

I’m adding to my position here.

• Fantastic earnings beat

• Revenue, earnings, and margins are accelerating

• Building out a nice handle

• Hot AI infrastructure theme

This has the makings of a potential new leader.

And I’m looking to add more once it breaks out of this handle, clears the resistance, and starts moving toward all-time highs.