Observations from a Baltimore Hotel (Send Food)

We're heading for the make-or-break months. Following the CDC and the FDA's decision to push for the halt in Johnson & Johnson (JNJ) vaccine, I am a bit more concerned about the stock market. The ongoing break higher by the S&P 500 and the QQQ should raise all alarm bells.   Observations from a Baltimore Hotel (Send Food) Dear Reader, Good afternoon. Yesterday, I flew in on an extremely crowded flight to Baltimore from Southwest Florida. The spring breakers from the University of Maryland were in full force. Every seat was taken. We weren't allowed to talk (you have to point to a sign for what drink you want and hold up a number). A stewardess shushed me like a grade-school librarian last night for requesting water. I will miss the good old days of flying at peak COVID – when I had the entire plane to myself, and the stewards asked if I wanted to play craps in the aisle. Now, we're heading for the make-or-break months. Following the CDC and the FDA's decision to push for the halt in Johnson & Johnson (JNJ) vaccine, I am a bit more concerned about the stock market. The ongoing break higher by the S&P 500 and the QQQ should raise all alarm bells. When the Russell 2000 is breaking down with lower highs and lower lows, money keeps pouring into the Mega Cap stocks. That pattern inevitably hits a breaking point. But it seems to me – more than ever – institutions are willing to store their capital into the Mega Caps because they view them as a better store of value. As you can in the 5-13 Exponential Moving Average – a necessary Momentum Oscillator that I watch – the 5-day trend line (Red) continues to be very strong. I am looking for that gap to narrow in the coming days, particularly with this earnings report wall coming tomorrow. Thoughts on the Banks and Beisbol I should be in Baltimore this week to visit the Godesburg team. I'm currently sitting in the Hilton, overlooking Camden Yards. As you get to know me, you'll find that I root for the Baltimore Orioles the same way I root for the Federal Reserve. With an abundance of caution. The Orioles will play two games here on Tuesday, which I can technically watch from my hotel room. It's a first-class baseball stadium, even if it's now 29 years old. I attended the first game there so many years ago, watching Rick Sutcliffe and the Orioles win their first game at this stadium 2-0 in what must have been the shortest opening day game ever. It's from this perch that I'll also take in tomorrow's earnings reports from several key banks. As I recently noted, Federal Reserve Chairman Jerome Powell went a little off-topic during his conversation with 60 Minutes earlier this week. He explained that cybersecurity is just as significant of a threat to the financial system as COVID-19. I'd argue it's more of a threat. You see, when I'm not talking Orioles baseball with my father-in-law, we spend a lot of time talking about community and regional banks. It makes for very unusual Thanksgiving and holiday meal conversations... but it's directly in my wheelhouse. Cybersecurity is one of the top reasons why there remains significant consolidation in the community banking and regional banking space. The costs are just too high. Tomorrow, I'll outline an exciting company in the financial space that benefits from all of this consolidation and offers you a rock-solid yield to play this ongoing trend. Until then, enjoy your day, Garrett {NAME} © 2021 Godesburg Financial Publishing, Inc. DISCLAIMER: COMMUNICATIONS FROM GODESBURG FINANCIAL PUBLISHING (GFP) AND EMPLOYEES ARE FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY – NOT INVESTMENT ADVICE: GFP and all the services it offers are for educational and informational purposes only and should NOT be understood to be securities-related offers or solicitations. 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