Wednesday Weekly

The Wednesday Weekly

Brett Lewis — Wed, 22 Jul 2026 11:05:13 GMT

Weekly Market Insight

Welcome to our weekly market update. This newsletter is designed to provide you with current market data, investment insights, and educational information about market trends and strategies. The content herein represents our observations and analysis of market conditions and is intended for informational and educational purposes only. It does not constitute personalized investment advice or a recommendation for any specific security or strategy.

Major Market Indexes

Closing Price as of 07/21/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

The Last 7 Days

The past week has been driven by three primary themes: the start of second-quarter earnings season, renewed Middle East tensions, and continued focus on inflation and interest rates.

Stock Market Summary

Markets traded with increased volatility as investors balanced encouraging corporate earnings against higher oil prices and geopolitical uncertainty. Early gains, particularly in technology, were often met with profit-taking later in the trading sessions. _{(MarketWatch)}

Technology and AI stocks remained the primary market leadership group. Semiconductor shares rebounded after recent weakness, but investors are closely watching earnings from major technology companies for evidence that heavy AI spending is translating into sustained profits. _{(The Wall Street Journal)}

Corporate earnings have generally started on a positive note, with many early reports exceeding expectations, helping support investor confidence despite elevated market valuations. _{(Raymond James)}

Treasury yields moved higher, reflecting concerns that stronger oil prices could slow progress on inflation and keep the Federal Reserve cautious regarding future interest-rate decisions. _{(MarketWatch)}

Despite recent volatility, major U.S. indexes remain positive for the year, suggesting investors continue to view the recent pullback as a period of consolidation rather than the beginning of a broader market downturn._{(AP News)}

Inflation & Federal Reserve

Last week’s June CPI report was generally encouraging, with inflation coming in softer than many economists expected, largely due to lower gasoline prices. That initially boosted equities and eased concerns about additional Federal Reserve tightening.

However, the recent rebound in oil prices has renewed concerns that inflation pressures could reaccelerate, causing investors to monitor upcoming inflation reports and Fed commentary closely._{(MarketWatch)}

Geopolitical Developments

The Middle East remains the dominant geopolitical risk. Military operations involving the U.S. and Iran intensified over the past week, with continued airstrikes, retaliatory attacks, and ongoing diplomatic efforts to prevent broader regional escalation._{(The Guardian)}

Oil prices climbed above $90 per barrel at points during the week as concerns grew over potential disruptions to shipping through the Strait of Hormuz, one of the world’s most important energy transportation routes. _{(The Guardian)}

Rising energy prices have become one of the market’s primary concerns because sustained increases could place upward pressure on inflation and corporate costs._{(MarketWatch)}

Positive Factors

Strong early corporate earnings.

Continued investment in artificial intelligence.

Inflation showing signs of moderating.

U.S. economic activity remains relatively resilient. _{(Raymond James)}

Primary Risks

Escalation of Middle East conflict.

Higher oil prices fueling renewed inflation.

Rising Treasury yields pressuring stock valuations.

Whether large-cap technology companies can justify elevated AI-related valuations during earnings season. _{(MarketWatch)}

Bottom Line:

Markets responded to a combination of corporate earnings reports, moderating inflation data, and renewed geopolitical developments in the Middle East.

Inflation data was generally encouraging, although higher oil prices have increased attention on potential inflationary pressures.

Treasury yields moved higher during the week, contributing to periods of increased market volatility.

Investors continued to monitor corporate earnings, economic data, and Federal Reserve communications for additional insight into the economic and interest rate outlook.

Despite recent fluctuations, the major U.S. equity indexes remain positive year-to-date.

While uncertainty remains, market performance continues to reflect a balance between generally favorable economic and earnings data and ongoing geopolitical and inflation-related risks.

Current Strong Tower Model Allocation

Clients Only — Allocation as of 07/21/2026

Bottom Line:

63.00% of our model is currently in the top 4 Industry Groups.
92.00% of our model is currently in the top 8 Industry Groups.

About Us

At Strong Tower Wealth Management, we offer comprehensive wealth management services using a goal-focused and holistic approach that considers each client’s overall financial situation, including their family, circumstances, and objectives. Our services include investment management, insurance planning, and estate planning coordination, provided with an emphasis on clarity and transparency.

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 15 Jul 2026 11:02:59 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 07/14/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

The Last 7 Days

Markets Became More Volatile as Middle East Tensions Escalated After beginning the week relatively stable, markets sold off sharply Monday as renewed U.S.-Iran tensions drove oil prices significantly higher and reignited inflation concerns.

Monday (July 13)

Dow Jones: -0.3%

S&P 500: -0.8%

Nasdaq: -1.6% _{(AP News)}

The Nasdaq led declines as semiconductor and AI-related stocks came under pressure.

Technology Leadership Paused

Following months of exceptional gains:

Semiconductor stocks experienced profit taking.

AI-related companies were among the weakest performers.

Investors rotated into more defensive sectors.

Technology fell more than 2% Monday while the energy sector gained over 3%._(Barron’s)

Energy Was the Big Winner

Crude oil posted its largest one-day gain in years after geopolitical developments threatened oil shipments.

Brent crude jumped nearly 10% to above $83/barrel

WTI crude rose over 9%. _{(MarketWatch)}

Energy companies outperformed the broader market.

Treasury Yields Moved Higher

The surge in oil prices caused investors to worry that inflation could remain elevated longer than expected.

Higher oil prices:

increase transportation costs

raise inflation expectations

reduce expectations for Federal Reserve rate cuts

Higher Treasury yields weighed particularly on growth and technology stocks._(APNews)

Precious Metals Declined

Interestingly, gold failed to act as a traditional safe haven.

Gold fell below $4,000/oz

Silver also declined sharply

Markets focused more on rising interest rates and a stronger U.S. dollar than on geopolitical risk._{(The Wall Street Journal)}

Major Geopolitical Developments

U.S.–Iran Conflict Intensified Again

The biggest story of the week was a sharp escalation in tensions between the United States and Iran.

Developments included:

The U.S. reimposed a naval blockade around Iranian ports.

Iran declared the Strait of Hormuz closed.

Commercial shipping through the Strait dropped dramatically.

Markets immediately priced in higher risks for global oil supplies. _{(MarketWatch)}

The Strait of Hormuz handles roughly one-fifth of the world’s oil shipments, making any disruption highly significant for global markets.

Oil Supply Became the Primary Market Concern

Investors are watching:

tanker traffic

potential supply disruptions

possible retaliation

further military escalation

Energy markets remain extremely sensitive to any new developments. _{(MarketWatch)}

China Growth Concerns Continue

Chinese markets weakened as investors balanced:

slowing economic growth

upcoming GDP data

Middle East tensions

softer AI-related stocks

Chinese equities fell to three-month lows during the week. _{(The Economic Times)}

Economic Data Investors Are Watching

This week brings several important catalysts:

Consumer Price Index (CPI)

Producer Price Index (PPI)

Major bank earnings

Retail sales

Additional Federal Reserve commentary

These reports will help determine whether inflation pressures from higher energy prices begin showing up in economic data. _(Barron’s)

What Markets Are Watching Next

Bullish Factors

Corporate earnings season is beginning.

The U.S. economy remains relatively resilient.

AI investment remains a long-term growth driver.

Consumer spending has held up despite higher rates. (Barron’s)

Risks

Escalation of the U.S.–Iran conflict.

Sustained oil prices above $80 per barrel.

Higher Treasury yields.

Persistent inflation delaying Federal Reserve easing.

Continued weakness in large-cap technology stocks. (MarketWatch)

Bottomline:

Markets became more cautious over the past week as geopolitical tensions and inflation concerns took center stage. While higher oil prices and Treasury yields contributed to weakness in technology stocks, energy shares benefited. Despite the recent volatility, U.S. equity markets remain positive for the year, reflecting continued confidence in the broader economic and corporate earnings outlook.

Speaking of CPI..

The June 2026 Consumer Price Index (CPI) report was a welcome surprise, coming in cooler than economists expected and providing some evidence that inflation pressures eased during the month.

The June Consumer Price Index (CPI) indicated that inflation cooled more than expected. Headline CPI declined 0.4% for the month, the largest monthly decline since April 2020, while the annual inflation rate slowed to 3.5%, down from 4.2% in May. Much of the improvement was driven by lower gasoline and energy prices during the month.

Core CPI, which excludes the more volatile food and energy categories and is often viewed as a better measure of underlying inflation trends, was unchanged during the month and slowed to 2.6% year-over-year. This suggests that broader inflation pressures may also be easing. _{(Bureau of Labor Statistics)}

While the report was encouraging, one month’s data does not establish a trend. Recent increases in oil prices associated with renewed geopolitical tensions could place upward pressure on inflation in the months ahead. As a result, investors will continue to monitor upcoming inflation reports, labor market data, and Federal Reserve commentary for additional insight into the path of monetary policy.

Current Strong Tower Model Allocation

Clients Only — Allocation as of 07/14/2026

Bottom Line:

62.00% of our model is currently in the top 4 Industry Groups.
93.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 08 Jul 2026 11:02:41 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 07/07/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

Second Quarter 2026 Market Summary

The second quarter of 2026 continued steady for the U.S. equities despite ongoing concerns surrounding interest rates, inflation, and geopolitical tensions. Markets experienced periods of volatility but ultimately finished the quarter with strong gains, led once again by technology and AI-related companies.

U.S. stocks rebounded sharply from their first-quarter decline, with the S&P 500 gaining nearly 15% in the second quarter, its strongest quarterly performance since 2020. Technology stocks led the rally, helping the Nasdaq-100 surge more than 27% during the quarter.

International stocks also posted solid gains in the second quarter, with emerging markets outperforming developed markets. The MSCI Emerging Markets Index rose more than 20%, compared with nearly 10% for the MSCI EAFE Index, led by a strong rally in South Korean equities.

Commodities struggled during the second quarter, with the S&P GSCI Commodity Index falling nearly 17%. Crude oil dropped more than 30%, reversing most of its gains from the early Iran conflict and weighing on energy stocks. Precious metals also declined, with silver falling over 20% and gold down more than 13%, erasing much of their strong gains from earlier in the year.

Interest rates moved higher during the second quarter as inflation and energy price concerns led investors to reassess Federal Reserve policy. Although falling energy prices eased some of those worries, markets continue to anticipate the possibility of another interest rate increase before the end of 2026.

Market Themes

1. AI and Technology Continued to Lead

Technology remained the strongest sector of the market.

Artificial intelligence spending continued at a rapid pace, benefiting semiconductors, software, cloud computing, and infrastructure providers.

While semiconductor stocks experienced periods of sharp pullbacks, software and AI infrastructure names maintained leadership.

2. Broader Market Participation Improved

Market leadership expanded beyond the “Magnificent Seven.”

Industrials, financials, and certain cyclical sectors participated in the rally.

Improved market breadth is generally viewed as a healthy sign for longer-term bull market sustainability.

3. Interest Rates Remained a Significant Driver

Treasury yields moved higher during portions of the quarter as economic data remained stronger than expected.

Investors reduced expectations for multiple Federal Reserve rate cuts.

Rising yields created headwinds for bonds and interest-rate-sensitive sectors such as utilities and real estate.

4. Economic Data Remained Supportive

Consumer spending remained healthy.

Employment data continued to show a resilient labor market.

Corporate earnings generally exceeded expectations, providing support for investor confidence.

5. Geopolitical Risks Persisted

Tensions in the Middle East created occasional market volatility.

Trade and tariff discussions remain on a potential risk.

Despite these concerns, markets largely focused on earnings growth and economic strength. “Back to the Basics” for overall market health.

What Investors Should be Monitoring Heading into Q3

Potential Tailwinds

Continued earnings growth.

Ongoing AI investment cycle.

Healthy consumer spending.

Expanding market participation beyond technology.

Potential Risks

Higher Treasury yields.

More restrictive Federal Reserve policy than expected.

Unexpected geopolitical escalation.

Signs that AI-related spending growth slows down.

Bottomline:

The second quarter reinforced an important lesson for investors: market leadership can broaden while still being driven by powerful long-term dynamics. Although volatility remains likely due to interest-rate and geopolitical uncertainties, the combination of solid earnings and resilient economic activity, has kept the primary market trend positive. Maintaining a disciplined, diversified investment process remains more important than attempting to predict short-term market movements.

Isn’t America Great!

Not a question...a statement.

We live in an extraordinary country.

My pastor shared a story over the weekend from the New York Post that really struck me. It isn’t about politics or economics, it’s about perspective.

A Japanese tourist visiting the United States for the World Cup wrote about his first experience at a Mexican restaurant. Before he had even placed an order, a basket of chips and salsa appeared on the table.

Confused, he stopped the waiter and said, “We have not earned these.”

The waiter simply smiled and replied, “They just come with the table, man.”

The tourist later reflected:

“They come with the TABLE. In my land, hospitality is a debt. Every gift creates an obligation... Here, the gift arrives before you have even proven you can pay for dinner.”

His friend warned him not to fill up on the chips, but it was too late. Honor demanded he finish every basket. By the time his meal arrived, he admitted he had been “defeated by a courtesy.”

One line especially stood out to me:

“Generosity that arrives before the request cannot be repaid. It can only be survived.”

That thought extends well beyond chips and salsa. It reminds me of the many blessings we receive every day, many of which arrive before we ever ask for them. For those of us with a faith perspective, it also echoes the grace we’ve been freely given.

The story prompted thousands of Americans to look at familiar things through refreshed eyes. Something as simple as complimentary chips became a reminder that hospitality, generosity, and kindness are woven into much of everyday life in our country.

This same group of Japanese fans also became known for bringing their own trash bags and helping clean the stadium after matches, a simple act of respect that earned admiration around the world. Their appreciation for our hospitality, paired with their own example of service, offers a lesson for all of us.

It’s easy to become consumed by headlines, social media, and the daily frustrations that surround us. Yet sometimes it takes the eyes of a visitor to remind us how much we have to be thankful for.

America certainly isn’t perfect. No nation is. But we are blessed with freedoms, opportunities, generosity, and everyday acts of kindness that many people around the world still find remarkable.

Sometimes the greatest reminder of how fortunate we are, comes from someone seeing our country for the very first time.

May we never lose our sense of gratitude, for the blessings we’ve been given and for the privilege of calling America home.

God Bless America!!!!!!!

Current Strong Tower Model Allocation

Clients Only — Allocation as of 07/07/2026

Bottom Line:

62.00% of our model is currently in the top 4 Industry Groups.
92.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 01 Jul 2026 11:02:16 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 06/30/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

At Strong Tower Wealth Management, we utilize a Sector Rotation Strategy. As a reminder, a sector rotation strategy is an active investment approach that shifts portfolio allocations among different sectors of the stock market based on where the economy is in the business cycle, changes in interest rates, earnings trends, and relative price strength. Rather than owning all sectors equally, the goal is to overweight sectors that are expected to outperform and underweight or avoid sectors that are expected to lag.

Below are Charts of Interest regarding the sector changes from the end of the 1st quarter until today. At Strong Tower we also utilize a technical charting program provided by our friends at Dorsey Wright to assist in evaluating these changes.

A common saying is that: “The only thing constant in life, is change.”

It is certainly true when it comes to the stock market.

The Last 7 Days

Stock Market & Geopolitical Summary:

Markets regained momentum over the past week as easing Middle East tensions reduced investor concerns. Now our attention shifts back to economic fundamentals and corporate earnings. Technology and AI-related stocks led the rebound, supported by continued confidence in long-term AI investment trends.

Lower oil prices helped ease inflation concerns after fears of supply disruptions in the Middle East lessened. Meanwhile, we will continue to monitor Treasury yields, inflation data, Federal Reserve policy expectations, and upcoming economic reports for clues about the direction of interest rates.

Bullish Factors:

Easing Middle East tensions

Continued strength in AI investment and technology

Healthy corporate earnings and consumer spending

Lower oil prices

Risks:

Higher Treasury yields

Sticky inflation and fewer expected Fed rate cuts

Elevated stock market valuations

Any geopolitical escalation, particularly involving Iran and global energy supplies

Bottom Line:

Investor sentiment improved during the week as geopolitical risks eased and attention returned to corporate earnings, AI-driven growth, and the broader economic outlook. While the longer-term trend remains positive, interest rates and geopolitical developments continue to be of primary concerns to keep our eye on.

Have a Great 4th of July, celebrating our beloved United States’ 250 Birthday!!!!!!!!!!!!!!!!!!!!!!!!!

Current Strong Tower Model Allocation

Clients Only — Allocation as of 06/30/2026

Bottom Line:

63.00% of our model is currently in the top 4 Industry Groups.
84.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 24 Jun 2026 11:03:56 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 06/23/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

Odds and Ends (From various news outlets)

The Last 7 Days:

1. Federal Reserve Remains the Primary Market Driver

The Federal Reserve left interest rates unchanged at 3.50%–3.75%, but markets interpreted recent comments from new Fed Chair Kevin Warsh as more hawkish than expected. Treasury yields moved higher as investors reassessed the possibility of additional rate hikes rather than cuts later this year. This has pressured high-growth and technology stocks. _{(JP Morgan Asset Mgmt).}

2. Technology Stocks Experience Sharp Pullback

After months of AI-driven leadership, technology and semiconductor stocks suffered a significant selloff this week.

Key developments:

The Nasdaq 100 lost more than $1 trillion in market value during the decline.

Semiconductor stocks fell sharply, with investors questioning the pace of AI spending and future returns on massive infrastructure investments.

Nvidia, Micron, and other AI-related names were among the largest drags on the market. _(Reuters)

3. Middle East Tensions Ease, Helping Risk Assets

One of the biggest geopolitical developments was continued progress toward a ceasefire and stabilization between the U.S. and Iran. Reduced fears of supply disruptions in the Strait of Hormuz helped calm energy markets and improve investor sentiment.

The easing of tensions:

Reduced concerns about oil supply shocks.

Lowered immediate inflation fears.

Supported broader equity markets despite the technology correction. _{(tradingKey.com)}

4. Oil Prices Stabilize

Earlier concerns that Middle East conflict could push oil above $100 per barrel have diminished as ceasefire efforts gained traction. Energy markets remain sensitive, but traders have become less concerned about a major disruption to global oil supplies. _{(tradingkey.com)}

5. Stocks Still Near Record Highs

Despite recent volatility:

The S&P 500 remains near all-time highs.

The market is still enjoying one of its strongest quarters in several years.

Momentum remains positive, although leadership has become narrower and more concentrated in a handful of large-cap stocks._{(The Life Financial Group)}

What Markets Could Be Watching Next

Bullish Factors:

Markets continue to be supported by apparent lessening of Middle East tensions, solid corporate earnings, continuing investment in artificial intelligence, and a consumer that continues to spend despite higher interest rates.

Key Risks:

Investors remain cautious about rising Treasury yields, a more hawkish Federal Reserve, concerns that AI-related spending may slow, and the potential for renewed geopolitical tensions in the Middle East.

The market’s outlook remains positive, but future gains will likely depend on whether economic growth and earnings can continue to offset higher interest rates and geopolitical risk.

Questions from a Client

“Do We Need to Be More Diversified as We Get Older?”

This question has come up recently, especially after several years of strong market returns and periods of volatility driven by tariffs, geopolitical conflicts, and economic uncertainty.

My response began with two questions:

1. Are you comfortable with the investment process being used to manage your portfolio?

If the answer is Yes, then proceed to my second question.

If the answer is No, let’s talk!

2. If something were to happen to you, who would ultimately receive these assets?

For most clients, the answer is a spouse, children, or other heirs. When viewed through that lens, it is worth considering whether those future beneficiaries could benefit from the same long-term growth-oriented investment strategy that helped build the portfolio in the first place.

While age is certainly a factor in financial planning, it is not the only consideration. Income needs, risk tolerance, estate planning objectives, overall assets, and time horizons all play important roles in determining an appropriate investment strategy.

Markets will always face challenges and uncertainty. Headlines change, geopolitical events come up unexpectedly, and volatility is a normal part of investing. Rather than reacting emotionally to events beyond our control, we believe in remaining disciplined, staying engaged, and focusing on the process.

At Strong Tower, our approach is to stay vigilant, evaluate opportunities and risks as they develop, and make adjustments when necessary. Long-term investing often requires patience, perspective, and the ability to remain focused on what matters most.

Stay the course. Stay engaged. Stay focused on your goals. Let Strong Tower execute. Have a blessed day.

Current Strong Tower Model Allocation

Clients Only — Allocation as of 06/23/2026

Bottom Line:

55.00% of our model is currently in the top 4 Industry Groups.
85.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Wed, 17 Jun 2026 11:03:48 GMT

No Wednesday Weekly this week. Will be back next week!

The Wednesday Weekly

Brett Lewis — Wed, 10 Jun 2026 11:03:49 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 06/09/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

Odds and Ends

SpaceX:

Market expectations suggest that a future SpaceX public offering could become the largest IPO in history. Some analysts estimate the company could raise more than $75 billion at a valuation

exceeding $1.5 trillion, far surpassing the current IPO fundraising record of $25.6 billion set by Saudi Aramco in 2019.

For U.S. companies, the largest IPO on record remains Visa’s 2008 offering, which raised $17.9 billion. A SpaceX IPO of the size being discussed would establish a new benchmark for both global and American public offerings.

Summertime Blues:

While summer is often associated with vacations, market participants frequently refer to the period as the “Summertime Blues” due to historically muted stock market performance.

Following a strong recovery from the first-quarter pullback, the S&P 500 gained 8.75% year-to-date through June 8. Historical data suggests that summer months have generally produced lower median returns compared with many other periods of the year.

Chart of Interest:

^{(Source: Dorsey Wright & Associates)}

Market Breadth - UP:

Despite a sharp pullback in technology stocks at the end of last week, underlying market breadth has continued to improve. Much of technology’s recent strength had been concentrated in semiconductor stocks rather than broadly across the sector. The divergence between semiconductors and software companies was largely driven by enthusiasm surrounding artificial intelligence, as advances in AI continue to fuel expectations for increasing demand for semiconductors and memory chips. The recent weakness highlights both the concentration of market leadership within technology and the influence of AI-related themes on sector performance.

What Is Your Style?

Recently I was told that my coaching “style” was different. This comment led me to reflect on how I show up on the field coaching my son’s baseball team and off the field managing my business.

As a coach, my style is simple:

I communicate. I communicate with parents about their child’s progress, strengths, and areas for improvement. I communicate with players about effort, attitude, and accountability.

I am present. I show up when the lights are on, but in particular when they are not. I am engaged. When I am there, I am all in. I push all my players, particularly my son. My players know what I expect: Play hard. Never quit.

They have been told they can control three things: Their energy, effort and attitude. If they don’t provide those things either collectively or individually, they will know! May be a bit much for some kids (and parents) but I am a guy who prefers a full-frontal assault verses a covert incursion.

My goal is always the same: to help young athletes (and young men) reach their potential. They are going to be future leaders. In their community, church, team and at home.

That same philosophy carries over into my business.

I believe clients deserve an advisor who is engaged, present, and available. Not just when markets are rising, but especially when uncertainty and challenges arise.

I strive to be fully invested in serving my Lord, my family, and my clients.

My style is not passive. It is not hands-off. It is not waiting for someone else to solve the problem.

When something doesn’t seem right, I ask questions. When challenges arise, I work through them. I pray, evaluate, and seek solutions. And when action is required, I act.

Whether on the ballfield, at home, or in the office, my approach remains the same: be engaged, communicate honestly, work hard, and give an all-in effort.

When you choose a coach or a financial advisor you deserve someone who shows up and stays involved.

What do you expect from your child’s Coach…......or Advisor?

Current Strong Tower Model Allocation

Clients Only — Allocation as of 06/09/2026

Bottom Line:

55.00% of our model is currently in the top 4 Industry Groups.
89.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 03 Jun 2026 11:03:52 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 06/02/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

June - Historical Data/Returns

Historically, June has been one of the weaker months for U.S. stocks, but it has not been consistently negative. These figures place June near the bottom of the monthly rankings, ahead of only a few months such as September in many studies. _{(ValueMarkers)}

Frequency of Positive Junes:

Looking back to 1926:

June has been positive about 52% of the time.

Average gain: approximately +0.1%.

Worst June on record: about -11.0% (1930)._{(ValueMarkers)}

Investor Takeaway:

June’s historical pattern suggests:

A slight positive bias overall.

Lower average returns than most months.

Higher importance of economic data, Federal Reserve meetings, and summer trading volume than seasonal trends alone.

For long-term investors, June seasonality is generally not strong enough to justify changing a diversified investment plan by itself. Historical averages describe what has happened in the past, but any individual June can be significantly better or worse than the average. _(E*Trade)

Item of Interest - “Backyard BBQ”

^{(Source: Dorsey Wright & Associates)}

Current Strong Tower Model Allocation

Clients Only — Allocation as of 06/02/2026

Bottom Line:

57.00% of our model is currently in the top 4 Industry Groups.
94.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Wed, 27 May 2026 11:03:47 GMT

No Wednesday Weekly this week, Brett is out on a well overdue Family Vacation. Will be back next week!

The Wednesday Weekly

Brett Lewis — Wed, 20 May 2026 11:03:47 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 05/19/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

What is the Sharpe Ratio?

The Sharpe Ratio is a statistical measure used to evaluate an investment’s historical return relative to its volatility. It helps assess how efficiently risk has been compensated over a given time period.

In simple terms:

The Sharpe Ratio answers this question:

“How much additional return did an investor receive for each unit of risk taken?”

A higher Sharpe Ratio generally indicates better risk-adjusted performance.

Important Considerations:

The Sharpe Ratio assumes volatility is an appropriate measure of risk.

It works best when returns are relatively normally distributed.

Comparing Sharpe Ratios is generally most useful among similar investment strategies or asset classes.

A higher return alone does not necessarily imply better performance if significantly more risk was taken to achieve it.

Modern Portfolio Theory and Stock Market Efficiency

I have always asked myself a few questions:

Is a computer-generated asset allocation model able to evaluate a client’s risk tolerance, when the volatility spikes? Or do they need to have an investment process that can move them to cash? What good is a pie chart when the volatility spikes beyond a +2 or even +3 standard deviation?

What exactly is an efficient market?

Most financial planning software is built around principles associated with Modern Portfolio Theory (MPT) because the framework provides a structured and widely accepted approach to balancing risk and return within diversified investment portfolios. Developed by Harry Markowitz, MPT focuses on the idea that investors can potentially improve portfolio outcomes by combining assets with different risk and return characteristics rather than evaluating investments individually.

I have been a critic of Efficient Markets and Modern Portfolio Theory for almost three decades now. The investment management processes at Strong Tower have been built upon Relative Strength and Momentum strategies. Yes, they underperform at times, when sector rotation occurs and adjustments are made to the portfolios. However, we attempt to keep the strongest and best performing sector and individual investments in our clients account at all times.

Common Criticisms of MPT-Based Planning:

Critics argue that MPT and related planning software can have limitations, including:

Reliance on historical data and assumptions.

Difficulty modeling extreme market events.

Assumptions regarding investor behavior and rationality.

Sensitivity to projected return assumptions.

Limited ability to predict future market conditions.

Because of these limitations, financial plans should generally be viewed as dynamic planning tools rather than precise forecasts.

Current Strong Tower Model Allocation

Clients Only — Allocation as of 05/19/2026

Bottom Line:

57.00% of our model is currently in the top 4 Industry Groups.
92.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 13 May 2026 11:03:15 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 05/12/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

Market Seasonality

Stock market seasonality refers to the historical tendency for markets to perform differently during certain times of the year, month, or even week. It is based on recurring investor behavior, economic cycles, tax patterns, earnings schedules, and institutional money flows.

One of the best-known seasonal patterns is:

“Sell in May and Go Away”

This old Wall Street saying reflects the historical tendency for stocks to perform better from November through April than from May through October.

Historically:

November–April has often produced the majority of annual market gains.

May–October has tended to be weaker and more volatile.

That does not mean markets always fall in summer. Only that average returns have historically been lower.

Monthly Seasonality:

Certain months have stronger historical tendencies:

January: Often strong due to new investment flows and the “January Effect”. (Which we have discussed in previous Newsletters).

February - September: Generally, more mixed.

September: Historically the weakest month.

October: Volatile but often suggest market bottoms.

November - December: Frequently strong. (The Santa Claus Rally that we have also previously discussed).

Important Limitation:

Seasonality is a tendency, not a prediction tool. It provides insight and reoccurring market “biases”.

For example:

Some “weak” seasonal periods have produced major rallies.

Some “strong” seasonal periods have seen bear markets.

Macro events, interest rates, earnings, inflation, and geopolitical events, usually matter more than seasonality alone.

Momentum Investing

Momentum or trend-following strategies aim to capture returns by favoring assets with persistent relative strength while reducing exposure to weaker performers. Over time, this disciplined approach can produce favorable long-term results; however, it does experience periods of volatility and interim underperformance.

These fluctuations typically occur as market leadership rotates across sectors or asset classes. During such transitions, short-term performance can diverge from expectations and may feel inconsistent with investor intuition, which can challenge adherence to the strategy.

Maintaining discipline and following a systematic process is essential, as momentum strategies rely on long-term consistency rather than short-term outcomes.

Momentum investing generally differs from traditional valuation-based approaches that emphasize “buy low, sell high.” Instead, it focuses on securities that have already demonstrated relative strength, with the objective of maintaining exposure to assets that continue to perform well over time.

Current Strong Tower Model Allocation

Clients Only — Allocation as of 05/12/2026

Bottom Line:

56.00% of our model is currently in the top 4 Industry Groups.
92.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 06 May 2026 11:03:32 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 05/05/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

Who Doesn’t Love Christmas?? (Yes, I know it’s May)

Did you ever watch Little House on the Prairie?

One of the earliest episodes shows the Ingalls family celebrating Christmas in their new cabin on the prairie. The weather was brutal, and yet Mr. Edwards (one of my favorite characters) arrived bearing simple gifts: a few sweet potatoes.

After those potatoes, Caroline thought a bit better of Mr. Edwards and bit less about his offensive spitting of tobacco. The girls each received a single penny and a tin cup. You would have thought they had been given a king’s ransom. It was simple.

When my grandfather was alive, Christmas was something else entirely. The whole family together. A massive tree with presents, piled so high, you could barely see my head poking up from the middle of all the boxes and bows.

I have a picture of that somewhere. That felt special!

But it raises a question:

Was it the presents… or the presentation?

The wrapping paper.

The bows.

The experience of opening it all.

And that brings me to something else.

How does the financial services industry present itself?

You fill out a questionnaire.

It determines your “risk tolerance.”

That leads to a model allocation.

A pie chart.

A mix of mutual funds or indexes.

You’re told it’s diversified.

Designed to manage volatility.

Built to deliver the “optimal” return for your level of risk. (Optimal return? Maybe a topic for another time.)

Structured to meet your retirement goals.

Now step back for a moment.

What does the package actually contain?

If, at the end of that process, what you own is simply a collection of mutual funds placed into a model portfolio, managed somewhere else by someone else, with little or no direct oversight from the advisor sitting across the table from you, then that begs a question:

What are you paying for?

Where is the value?

Could you replicate something similar at a discount brokerage firm?

Maybe.

Or… you can dig deeper.

Ask better questions.

Request transparency.

Understand what you own, why you own what you own and what is it truly costing you?

If you’re not sure what to ask, start simple:

What exactly is in this portfolio?

What are the internal and external costs?

Who is actively managing this, and how often?

Just like you’d seek a second opinion from a doctor, it makes sense to do the same with your retirement plan.

Final Thought

Everyone loves Christmas.

Everyone loves receiving a gift.

A gift given with love is one thing.

Once the wrapping is torn away and the bow is gone from your Comprehensive Financial Plan….

What is actually inside? That is what matters.

Your retirement needs, goals and the results that come with it, are something entirely different.

Forget the pretty paper and bow…What’s in the Box?

Current Strong Tower Model Allocation

Clients Only — Allocation as of 05/05/2026

Bottom Line:

55.00% of our model is currently in the top 4 Industry Groups.
92.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 22 Apr 2026 11:03:43 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 04/21/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

“Life Happens….What Now?”

As we enter earnings season, much of our professional focus turns to portfolio positioning and what we should own within our models at Strong Tower. Markets continue to react to ongoing global tensions: conflict with Iran, questions of ceasefires, and the uncertainty surrounding the Strait of Hormuz. In many ways, it’s business as usual. There is always something to be concerned about, and as we know, markets rarely welcome uncertainty.

But today, I want to step away from the markets and talk about something more important: life and perspective.

Life is challenging.

It’s not always picture-perfect. It’s not picket fences and roses.

Life is hard. It is not Romper Room.

Aging parents or in-laws.

Children: activities, school, sports, braces and more braces. (see below).

Marriage: balancing schedules, responsibilities, finances, and making time for one another.

Family, friends, church… the list goes on.

You understand.

My oldest daughter was diagnosed with scoliosis at age 12. Since then, she has worn a brace 18+ hours a day. Even sleeping in it. She’s now approaching 17. I can tell you this: she is one of the strongest young women I know. Yes, I said women. It hasn’t been easy: physically or emotionally, but she continues to persevere with grace. She is also wearing braces on her teeth and will likely still have them for prom and all the pictures that follow. But through it all, God is good!! Last fall, she committed to swim at the University of South Carolina. Division I! An incredible accomplishment. I couldn’t be prouder of her strength, discipline, and spirit. The scholarship is a blessing, but seeing my little girl do what she loves is the real reward. She’ll be heading off to college next year. A new season… one I’m not quite ready to talk about just yet.

My son has a deep love for baseball. His energy and effort on the field have never been in question. He’s the first to greet a new pitcher on the mound, always encouraging, always inclusive. I only wish the world always returned that same kindness. It’s not easy watching him navigate those challenges, but it’s part of his journey. Maybe I push him too much? Maybe I want him to be a bit tougher than the surrounding world that has ideas of how to “beat him down” and try to wrestle, from him, the eternal life and glory that awaits him?

I remind him often, he’s growing into the man God intends him to be.

Strength, resilience, character and faith, are forged in these moments.

And then there’s my youngest. My “baby girl.” She loves to sing, dance, and play guitar. The songbird of our home. Eleven going on twenty. Maybe it’s because she is our last, or maybe it’s because I was the youngest in my own family. Regardless, those quiet mornings when she climbs into my lap are moments I hold tightly. I was always told it goes fast… and now I understand just how true that is. Three children who bless me every single day. A kind of grace I know I don’t deserve.

And my marriage. My wife. My life. Truly the strongest person I know. She is currently walking through the difficult transition of moving both of her parents into assisted living. Not far away, but no longer just across the road like they have been these past six years. I lost my own parents 12 and 9 years ago, so while I understand the weight of it, I also know that loss never fully fades. The road ahead is uncertain, but we walk it together.

Every family carries something. Each of us has our own “cross to bear.” I certainly have a small forest to keep moving. Some heavier than others, but none meant to be carried alone.

We need community.

We need each other.

To encourage. To support. To simply show up.

Sometimes it’s not about money or material help. Sometimes it’s a hug, a kind word, or a prayer that can move mountains in the Courts of Heaven. God is always working, in ways we may never fully see.

In the quiet moments, if we allow HIM to search our hearts, we can be stirred to act. To reach out. To listen. To serve. HIS “Call to Action”. Not driven by urgency, but by purpose.

This newsletter often focuses on markets and money. Not today.

Hold on to perspective.

Do what matters….while you still can.

Reach out to a parent, a sibling, a friend… even someone where the relationship may be strained. There may come a day when that opportunity is gone.

The markets will do what they do. Returns will come, some better than others. But they will come.

The question is: What truly matters today?

Because we are not promised tomorrow.

Have a blessed day!

- Husband. Father. Friend. Brother.

Current Strong Tower Model Allocation

Clients Only — Allocation as of 04/21/2026

Bottom Line:

55.00% of our model is currently in the top 4 Industry Groups.
92.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 15 Apr 2026 11:01:40 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 04/14/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

As a reminder, at Strong Tower, we utilize both fundamental and technical data in the management of our clients’ portfolios. We use the services of Dorsey Wright & Associates, for some of our research, charting, market commentary and thought leadership. On that note, there was a great article this past week regarding the Masters. I would like to share that article with you.

A Lesson from Azelea: It’s Never All Roses

(Source: Dorsey Wright & Associates - 4/2/26)

If the 13th hole at ANGC, home of the Masters, isn’t the perfect golf hole, it is close. If it isn’t the most strategic hole at ANGC, it is close. And if a hole that is aptly named “Azalea” isn’t the most scenic on the golf course come early April each year, you need to have a long talk with the course superintendent. ANGC is unique as a golf course in many ways, and this is the time of year that avid golf fans can do a little more than just sit back and watch in awe. The par 5’s at Augusta, of which the 13th hole is one, are among the easiest holes on the course based upon scoring averages, and they are often the only holes that play under par. The 12th hole, by contrast, is the shortest hole on the course (listed at 155 yards) and is typically played over par by “the field.” In fact, the historical stroke average for this hole is above par at 3.27. It is sometimes among the most difficult holes on the course relative to par. But it is that first step off the slippery 12th green that concerns us today and will concern the best golfers in the world later this week, as this is when they head up to the final hole of what is affectionately referred to as “Amen Corner,” the aforementioned 13th.

In terms of coming in under par, the 13th at Augusta is among the “easiest” holes, if not the easiest, on the course, historically speaking. On average, the scoring on the 13th is under par at 4.77. But that doesn’t mean there aren’t some scary moments for the pros. When players get to the 13th at Augusta in today’s composite-fused, over-sized, extra-long, super-stiff, NASA-approved driver world, it isn’t the length of the hole that is daunting - almost every player in the field is capable of reaching the 510ish yard par-5 in two strokes. Rather, it is the combination of distance, a steeply sloping fairway, enough pine straw to choke a rake, and the most famous creek in golf (Rae’s) protecting a green that makes the Rockies look flat, that makes the 13th one of the most strategic holes in golf.

On the one hand, the green is easily reachable in two for a scratch golfer (distance-wise), if played well. On the other hand, some of the best golfers in the world have putted a ball off the green and into the creek (Tiger Woods in 2005). Before putting comes into play, a good tee shot is mandatory for a golfer to even think about the aggressive second shot that could ultimately lead to an eagle on the 13th. A wayward drive that lands in the trees or the pine needles makes going for the green a treacherous proposition with a low probability for success (just don’t tell Phil Mickelson). And even with a good tee shot, the second shot is one of pure strategy, a point-driven home like a John Daly slap-shot back in 2007. That same year, Tiger Woods had a remarkable eagle at 13 in the final round after hitting the green in two and caused perhaps the loudest roars of the tournament that year. Meanwhile, the eventual winner, Zach Johnson, chose not to attempt to reach the green in two shots a single time in the tournament, and as the sunset on Master’s Sunday, he was the one slipping on a new green blazer. Or who could forget when Bubba Watson, back in 2014, went on to claim his second green jacket after gaining plenty of momentum on 13. He blasted his drive over the trees and onto the fairway, then pulled out a sand wedge to plop it over Rae’s Creek and onto the green in two. He then birdied the hole. As you can see, number 13 at Augusta is quite simply a remarkable risk-reward hole that offers many ways to play it and many ways to fail.

Who’s Your Caddie??

At STWM, we utilize several types of research services to provide data analytics. We focus on fundamentally strong companies and sectors and use technical analysis to determine support and resistance levels, entry and exit points, to name a few. So, a fair comparison is: our research is our “caddie”. A caddie’s role is to support the golfer in making informed decisions and managing the course effectively.

Their responsibilities include but are not limited to:

Course management and strategy - Helps the player evaluate each shot (what is the “lie” of the ball? More on this later), considering distance, hazards, wind, terrain and overall strategy. They often recommend which club to use and the best approach to the hole.
Reading greens - On the putting surface, caddies assist in reading slopes, speed and break to help the golfer judge how a putt will roll.
Carrying and maintaining equipment - They carry the golf bag, keep clubs clean, managed yardage tools, and ensure everything is ready for each shot.
Providing perspective and composure - A good caddie helps the player stay focused and emotionally steady, especially after poor shots or during high-pressure moments.
Course knowledge - Experienced caddies bring valuable insight into the course layout, conditions and tendencies that may not be obvious to the player.

In short, a caddie acts as a combination of strategist, advisor and support system, helping the golfer make better decisions while the player ultimately executes each shot.

The “lie” refers to the position and condition of the golf ball at rest, and how it sits relative to the ground or surrounding environment.

Key aspects of a “lie”:

Surface – Is the ball in the fairway, rough, sand bunker, or another area?
Ball position – Is it sitting cleanly on top of the grass, buried, or uneven?
Surroundings – Are there obstacles like trees, slopes, or hazards affecting the swing?

Why it matters:

The “lie” directly influences club selection, shot type, and expectations for the outcome. A skilled golfer adjusts their strategy based on the lie rather than forcing an ideal shot. In simple terms, the “lie” is the reality of the situation you must play from, and the foundation for your next decision.

How does you or your current advisor determine the “lie” of the ball?

Do you know?

This market comment uses a golf analogy to explain how investors should approach uncertain markets.

The key message: Don’t abandon your strategy when conditions get difficult. Stay focused on fundamentals and make disciplined decisions based on current conditions.

Markets today are mixed:

The S&P 500 is coming off strong performance but has recently stumbled.
Leadership (like technology) has cooled in the short term.
Some sectors are still performing well.
External risks (like geopolitical tensions and energy prices) add uncertainty.

Like facing a tough second shot in golf, investors aren’t dealing with a perfect setup, but there are still multiple reasonable paths forward. The goal isn’t perfection (an “eagle”), but solid outcomes (a “par” or “birdie”) given the situation.

At STWM, we utilize several research and information sources to evaluate the “lie” of the markets.

They provide us with guidance and perspective.

They help us evaluate probabilities and conditions

Bottom Line:

Successful investing, like good golf, comes from discipline, preparation, and consistent decision-making, not waiting for ideal conditions or reacting emotionally to setbacks. Market environments are rarely “ideal,” and waiting for complete clarity may result in missed opportunities. Instead, a consistent, process-driven approach, supported by analytical tools and a relative strength strategy, can help make informed decisions under a variety of market conditions. Ultimately, success in investing, is framed as a function of discipline, prudent risk management, and adherence to a well-defined methodology, rather than short-term market timing or emotional reactions.

New Website!

Check out our new website!!

Strong Tower Wealth Management

Current Strong Tower Model Allocation

Clients Only — Allocation as of 04/14/2026

Bottom Line:

52.00% of our model is currently in the top 4 Industry Groups.
91.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 08 Apr 2026 11:03:10 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 04/07/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

1st Quarter Index Returns:

Dow Jones -4.6%

S&P500 -3.6%

Nasdaq -7.1%

Takeaway:

Broad U.S. equities had their worst quarter since 2022.

Growth, particularly in the technology sector (NASDAQ) was hit hardest.

Blue-chip and value stocks (Dow) held up relatively better.

What Drove Q1 Weakness?

Interest Rates Repricing: Markets entered 2026 expecting multiple Fed rate cuts. Shift to “higher-for-longer” pressured valuations (especially tech).
Tech and AI Reset: “Magnificent 7” broadly declined. Investors questioned AI monetization vs. spending.
Geopolitical & Energy Volatility: Middle East tension and the US conflict with Iran, contributed to quickly rising oil prices. Added uncertainty with inflationary pressure.
Valuation & Positioning: Markets came into 2026 near all-time highs after strong 2025 gains. Profit-taking, along with, elevated equity exposure amplified downside movement.

Market Rotation (Important Theme):

Some notable shifts occurred.

Outperformers:

Industrials.

Energy.

Financials.

Defensive sectors.

Underperformers:

Mega-cap tech.

High-growth names.

YTD Path:

January–February: Mixed to slightly positive start.

February peak: Dow briefly +4% YTD and hit 50,000 milestone.

March: Sharp selloff across all indices drove negative Q1 returns.

Macro Backdrop:

Economy: Still resilient. Q1 earnings expected +10–13% YoY growth.
Inflation and the Fed: Inflation remaining “sticky “which is delaying rate cuts. Policy uncertainty supports increased volatility.
Bonds: Rising Treasury yields are typically a headwind for equities.

This does NOT appear to be a structural bear market…yet:

Earnings are still growing.

Economic data is still holding up.

More consistent with:

Normal market correction, not a structural downturn.

We are seeing a rotation into more traditional sectors like energy, financials, and industrials.

Periods like this are a healthy part of long-term investing.

What is notable:

Diversification struggled in Q1, which will usually favor a Relative Strength Investment Strategy.

Correlations rose across asset classes.

Meaning while correlations typically move in opposite directions, in this case, volatility and asset class correlations, moved together.

Bottom Line:

Markets are digesting: Higher rates. AI expectations. Geopolitical risk, not a collapse in fundamentals. Markets are adjusting, not breaking, and long-term fundamentals remain intact.

New Website!

Check out our new website!!

Strong Tower Wealth Management

Current Strong Tower Model Allocation

Clients Only — Allocation as of 04/07/2026

Bottom Line:

52.00% of our model is currently in the top 4 Industry Groups.
91.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 01 Apr 2026 11:03:17 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 03/31/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

Question From a Client?

I am always appreciative and thankful for feedback and questions from clients and/or prospective clients. I thought this question was important enough to include in this week’s Newsletter and expand on more of the processes utilized here at Strong Tower Wealth Management (STWM).

“How long do we ride this downturn? Should we move to cash and re-enter when the market starts trending upward again?”

Great, great question! The short answer in most cases is no.

Market pullbacks, corrections, and periods of profit-taking are normal and healthy. Even spikes in the VIX (volatility index) are common. However, true capitulation and contagion represent a different and more serious environment.

Let’s take a closer look.

At STWM, we evaluate several key categories of data when assessing market conditions:

Fundamentals – The underlying health of companies, including earnings and revenue trends.
Technical Analysis – Support and resistance levels across individual securities, sectors, and the broader market.
Economic Data – Government reports, for example, such as CPI, PPI, and housing starts.
Geopolitical Factors – Domestic and international events that may impact markets.
Monetary Policy – Actions and guidance from the Federal Reserve.

These are among the most influential drivers of market behavior.

We’ve used this analogy before: when driving, how should you react if your car begins to skid? The correct response is to remain calm and gently steer into the skid, not to panic or overcorrect. And you certainly, don’t jump out of the car.

Markets behave similarly.

Often, when investors feel the strongest urge to “get out” and move to cash, markets are nearing a bottom or perhaps entering a consolidation phase. A period where prices move within a defined range. These periods can be important in establishing a base, and the longer they last, the more meaningful the eventual move, up or down, can be. If the market breaks higher, being overly defensive or in cash can result in missing a significant portion of the recovery before the trend becomes clear.

If markets move lower, that’s when capitulation and contagion risks may increase, and a more detailed evaluation becomes necessary.

This may involve:

Trimming or eliminating underperforming positions.
Reassessing sector exposure.
Identifying core holdings to retain during more challenging conditions.

A critical component of investing, often overlooked, is human behavior.

Behavioral finance studies how emotions and cognitive biases influence decision-making. Some of the most common include:

1) Loss Aversion: Losses tend to feel roughly twice as painful as gains feel rewarding.

2) Confirmation Bias: Seeking information that reinforces existing beliefs while ignoring opposing viewpoints.

3) Panic Selling: Selling during downturns out of fear, often associated with capitulation.

4) Fear of Missing Out (FOMO): Buying into rising markets to avoid missing gains, often near market peaks.

5) Herd Mentality: Following the crowd, which can amplify both market bubbles and declines.

6) Greed and Fear Cycle: Aggressive buying in strong markets and emotional selling in weak ones.

7) Irrational Exuberance: Overly optimistic, emotion-driven investing, commonly seen in market bubbles.

Bottom Line:

Markets are not driven solely by fundamentals, technical levels, economic data, geopolitical events, or Federal Reserve policy. They are also heavily influenced by investor sentiment and behavior. The most successful investors are not emotionless. They simply have disciplined processes in place to manage those emotions. Whether through a structured system or an actively engaged advisor, consistency and execution are key differentiators.

So, when markets enter a “skid,” our objective is to make measured adjustments, not overreactions. And we certainly don’t jump out of the car.

New Website!

Check out our new website!!

Strong Tower Wealth Management

Current Strong Tower Model Allocation

Clients Only — Allocation as of 03/31/2026

Bottom Line:

58.00% of our model is currently in the top 4 Industry Groups.
92.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 25 Mar 2026 11:03:21 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 03/24/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

Key Insights on Markets and Conflicts

1. Equities (Stocks):

Short-term: Often volatile, with sharp initial declines due to uncertainty.
Medium/long-term: Can rebound, especially in defense, infrastructure, and technology sectors.
Historical examples: WWII, Gulf War: markets recovered after initial shocks.

2. Government Bonds:

Typically act as a safe haven, lowering yields during conflict.
Inflationary pressures may rise in prolonged wars.
Historical examples: WWII, Middle East conflicts.

3. Commodities:

Oil & Energy: Prices often spike due to supply concerns.
Precious Metals: Gold and silver generally rise as hedges.
Agricultural Commodities: Volatility depends on conflict location and trade disruptions.
Historical examples: 1973 Oil Crisis, WWII gold demand.

4. Real Estate:

Usually stable or modestly declines in non-combat zones.
Government infrastructure projects can create localized growth.
Historical examples: London WWII, U.S. post-WWII reconstruction.

5. Currencies:

Safe havens: USD tends to strengthen.
Risk currencies: Those in combat zones or unstable regions may weaken.
Historical examples: USD during WWII.

6. Overall Observations:

Duration matters: Short wars typically cause limited disruption; long wars can reshape economies.
Policy impact: Government spending, taxation, and monetary actions influence asset returns.
Investor psychology: Fear and uncertainty often drive short-term volatility more than economic damage.

7. Volatility (VIX):

Tends to rise before U.S. military action and decline afterward as outcomes become clearer.
Suggests markets often “price in” conflict ahead of time.

8. Asset Class Performance:

Emerging markets and crude oil often show notable gains post-conflict.
Most other asset classes behave in line with historical expectations.

9. Context Over Fear:

Markets are forward-looking; declines are usually driven by uncertainty.
Historically, markets demonstrate resilience once outcomes are known.

Bottom Line:

Markets respond to uncertainty, not conflict itself.

Chart of Interest:

all data besides SPX uses prices from >1980, decreasing the count of observable values

You Can’t Drive by Looking in the Rear-View Mirror

You can’t drive forward by looking in the rear-view mirror. While reviewing past market performance is useful, it should not dictate future decisions.

Investors should understand how their advisor plans to respond during the next market downturn. Markets are inherently unpredictable and can remain irrational for extended periods, which requires preparedness. It requires engagement and oversight. As the British economist, John Maynard Keynes said, “Markets can remain irrational longer than investors can remain solvent”, underscoring the importance of adaptability.

Like driving, there are times when conditions are clear and visibility is good. At other times, risks increases and conditions become more uncertain. While not all volatility can be anticipated, there are often observable indicators that warrant increased caution and adjustments. What is your advisor watching? Emotional reactions, such as exiting the market during downturns, can lead to missed recoveries. A common investor mistake. Overcorrecting in a curve, can wreck your vehicle and portfolio.

Strong Tower Wealth Management cannot predict market movements. However, portfolios are actively monitored and adjusted when market conditions change. This may include increasing cash allocations during periods of elevated volatility, providing flexibility and the ability to respond to opportunities. Or the best course of action is, no action at all.

Strong Tower does not follow a passive, static, “set it and forget it” allocation approach. Instead, we maintain a forward-looking, adaptive investment process that seeks to align portfolio positioning with changing market conditions.

A disciplined strategy involves adjusting exposure when conditions warrant, including raising cash to maintain flexibility. Effective investing requires ongoing evaluation, thoughtful adjustments and a commitment to staying focused on what lies ahead.

No strategy can guarantee outcomes. The focus remains on making informed, disciplined decisions and maintaining a proactive approach to portfolio management.

The “Other” March Madness

March often brings notable market volatility.

Historical examples include:

Last year, the S&P 500 dropped over 5.5% in March before rebounding sharply in April after tariffs were imposed.
Six years ago, it fell roughly 30% in March at the start of the COVID-19 pandemic.
This week marks 17 years since the Global Financial Crisis market bottom in March 2009.

Warnings from TV personalities like Jim Cramer, who was quoted on October 6, 2008, saying, “Whatever money you may need for the next five years, please take it out of the stock market right now, this week. I do not believe that you should risk those assets in the stock market right now.” Warnings like this, advising investors to pull money out of the market, helped some avoid further losses but many who exited completely missed the subsequent historic bull market, that began on March 9th, 2009. Similarly, panic-selling during the COVID crash led some investors to miss rapid recoveries. Anyone who shifted their entire portfolio to cash or bonds and maintained that long-term allocation did so to their detriment.

New Website!

Check out our new website!!

Strong Tower Wealth Management

Current Strong Tower Model Allocation

Clients Only — Allocation as of 03/24/2026

Bottom Line:

54.00% of our model is currently in the top 4 Industry Groups.
91.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 18 Mar 2026 11:02:18 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 03/17/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

March Madness…. Don’t Go for the Pump Fake!

Pump Fake: In basketball, a pump fake is when a player fakes a shot to get a defender to jump off the ground. Then the offensive player drives or shoots after the defender has landed. In markets, it’s the same move when a stock or index surges, luring buyers in just before reversing sharply lower. The “shot” never comes. You left your feet, and now you’re out of position.

I played basketball in high school and was fortunate enough to attend college on a basketball scholarship. With the NCAA basketball tournament beginning, this week is one of my favorite times of the year for watching sports. Ironically, some of the “coaching” I received on the court, applies directly to what I do today.

Much like March Madness, the selection process mirrors a Relative Strength investment strategy. The NCAA selection committee doesn’t just pick the most popular teams. They rank teams systematically based on a variety of demonstrated performance criteria. Similarly, Relative Strength investing doesn’t chase headlines or hype; it ranks securities based on actual price performance relative to its peers.

The parallels are very compelling:

Overall win-loss record → A stock’s total return over a measured period. Has it been winning more than it’s been losing?

Strength of schedule → Has the stock held up in a tough market environment: rising rates, volatility, sector headwinds?

Quality wins → Strong performance during market rallies. Was it a leader, or laggard?

Bad losses → Sharp drawdowns that disqualify otherwise decent performers. One ugly loss can knock a team, or a stock, down the rankings.

Road wins → Gains made in unfavorable conditions. A stock that rises even when its sector is struggling stands out. Also called divergence.

Head-to-head results → How does this stock or fund rank directly against its peers in the same category?

Then we like to get involved in the Bracketology. What teams will we select, in the office pool to win it all?

If we pick our teams and players based on the data, choosing those teams we believe will give us the best chance to win the bracket pool. Why can’t your investments be selected the same way? What players, what stocks, with specific selection criteria, give us the best opportunity to be successful over time?

When playing basketball defensively and “closing out” on a shooter, after a skip pass or getting hung up coming off a screen, a clever scorer would often use a “pump fake” to get the defender off their feet. This would create space for an uncontested shot. Because of this, we were taught to close out under control and stay on the ground, rather than overcommit. In the same way, recently when oil prices spiked, the question became whether investors were overreacting too quickly. Essentially “chasing” the move rather than waiting for a clearer opportunity.

Granted, oil improved in 2025; however, for the last couple of years, oil has been an underperforming sector. Oil has underperformed considerably compared to Technology, over the long-term.

So, this poses a few questions:

Is the volatility in the oil sector a “pump fake”? Is it just enough of a move to get us off our feet and out of position? Consider the price action over the last few weeks. Oil spiked from the mid-$60s to over $118, fell back to $77, climbed again to $102, and as of this writing sits at $93.58. That is not a calm, trending market. That is a market that has punished the undisciplined.
Or is this a significant rotation into oil and out of other areas? This remains to be seen.

Short term volatility on economic and/or geopolitical news can unfortunately, affect the markets and distress many investors.

Bottom Line:

At STWM, we will continue to monitor the markets daily and our positions within the model.

We will adjust as we see prudent regarding market conditions.

We prefer to “stay on our feet” and not overreact to the situational aspects of the market.

We will stay with our game plan to evaluate the overall market, sectors and individual positions we maintain.

We intend to always keep the best players on the court/field with a working inventory of stocks (players on the bench) ready to adjust/replace, if warranted.

Enjoy the next few weeks of the NCAA basketball tournament. There will be surprises. A “Cinderella” team or two, will emerge that we all want to root for. However, the likelihood of a low seed getting into the Final 4 and winning it all, is not likely.

Although we all like to pull for the underdog, not so much when it comes to your money though, right? But do you want to put your money into a 15 or 16 seed? Or would it make more sense to invest in a top 1 to 3 seed?

Stay with strength and stay on your feet.

New Website!

Check out our new website!!

Strong Tower Wealth Management

Current Strong Tower Model Allocation

Clients Only — Allocation as of 03/17/2026

Bottom Line:

26.00% of our model is currently in the top 4 Industry Groups.
93.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 11 Mar 2026 11:02:28 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 03/10/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Items of Interest

March Madness…..Don’t Go for the Pump Fake!

Coming next week!

Current Strong Tower Model Allocation

Clients Only — Allocation as of 03/10/2026

Bottom Line:

25.00% of our model is currently in the top 4 Industry Groups.
83.00% of our model is currently in the top 8 Industry Groups.

About Us

Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.

Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com

The Wednesday Weekly

Brett Lewis — Wed, 04 Mar 2026 12:03:06 GMT

Weekly Market Insight

Major Market Indexes

Closing Price as of 03/03/2026

The Strong Tower Difference

Ask Yourself…

What do you own?
Why do you own what you own?
Do you know what you’re truly paying for your investment management and advice?

If you can’t answer these three questions, watch this video

Current Items of Interest

Iraq, Tariffs, the Fed and March Volatility

U.S. strikes on Iran over the last few days, triggered market volatility and investor uncertainty. Global markets reacted with weakness Monday morning and continued into Tuesday, as major domestic indices declined while energy and defense stocks moved higher on escalating tensions.

Last year, tariff related uncertainty contributed to a sharp rise in extreme daily moves, more than doubling the historical average. As we approach March again, tariffs have returned to the forefront of market discussion following a recent Supreme Court decision. Seasonal patterns combined with policy uncertainty may create heightened volatility.

Cooling inflation is strengthening the case for potential rate cuts. The latest Consumer Price Index (CPI) from the Bureau of Labor Statistics came in slightly below expectations at 2.4% year over year, helping lift market expectations for easing at the June 17 FOMC meeting. As prior tariff-related price pressures roll out of the 12-month calculation window, inflation readings may continue to moderate, further supporting the possibility of lower policy rates. Following the CPI release, rate-cut probabilities rose modestly, and fixed income markets responded positively. (Source: Dorsey Wright & Associates)

On average, March shows the second highest count of extreme days of any month at 5.82 days, behind only October, 6.74 days. (Source: Dorsey Wright & Associates)

“It’s ALWAYS about the Money!”

We’ve all heard it: “It’s not about the money.” In professional sports. In business. In investing.

But eventually, it is.

Investors do not commit capital to feel average. They do not invest to be categorized. They invest to grow their wealth responsibly and efficiently over time. For years, much of this industry has relied on risk questionnaires, personality grids, and pre-built pie charts. Clients are often placed into models, assigned an allocation, and handed a portfolio that looks remarkably similar to thousands of others.

Asset allocation has value. Risk alignment matters. Time horizon matters. Liquidity matters.

Models are starting points, not strategies.

Templates are tools, not solutions.

Comfort alone is not an investment objective.

Long-term, competitive, risk-adjusted returns are.

A Different Standard

Early in my career, I saw how advisors were trained to “fit” clients into personality categories and tailor presentations to close business. The emphasis was often on sales structure rather than investment substance.

I chose a different path.

This is what I do. I manage portfolios of individual stocks.

Here is how I do it. I review holdings daily. I make the decisions. I execute the trades. Your portfolio is not outsourced to a model or committee.

Here is why it matters. Direct management creates accountability. You know who is making decisions and why.

Here is what it costs. Clear, external advisory fees. Fully disclosed. No hidden internal expense layers typical of many packaged investment products.

Growth With Discipline

Let’s be clear: Pursuing results does not mean ignoring risk.

Investing should reflect a disciplined effort to seek efficient outcomes consistent with each client’s objectives, time horizon, and tolerance for volatility. It is not about chasing maximum returns without regard to downside exposure.

It is about refusing to settle for mediocrity disguised as prudence.

A comprehensive advisory relationship should include:

A clearly articulated investment philosophy
A defined methodology
Transparent discussion of risks and variability
Full disclosure of costs
Ongoing communication and accountability

What Actually Drives Outcomes

At the end of the day, investing is not about colorful charts or industry “buzzwords”.

People save for stability. They invest for growth.

Achieving productive, risk-aware returns requires:

Discipline — a repeatable process
Engagement — continuous oversight
Execution — decisive implementation

This profession is difficult.

Markets are competitive.

Generic templates are not enough.

Success comes from transparency, accountability, and a persistent focus on long-term results.

So yes, when all is said and done:

It becomes about the return.

It becomes about the money…. Your money!

Current Strong Tower Model Allocation

Clients Only — Allocation as of 03/03/2026

Bottom Line:

52.75% of our model is currently in the top 4 Industry Groups.
91.00% of our model is currently in the top 8 Industry Groups.
About Us
At Strong Tower Wealth Management, we offer comprehensive wealth management services using a goal-focused and holistic approach that considers each client’s overall financial situation, including their family, circumstances, and objectives. Our services include investment management, insurance planning, and estate planning coordination, provided with an emphasis on clarity and transparency.
Not a client yet? We invite you to schedule an introductory assessment with Brett to discuss your financial goals and learn more about how we can support you.
Schedule a Strong Tower Assessment

Brett Lewis
Founder / Managing Director
Strong Tower Wealth Management
www.strongtowerwealthmanagement.com