The Nasdaq Composite index is down -10.6% from its Oct 29, 2025 closing high, almost five months ago.

The S&P 500 index is down -7.2% from its Jan 27, 2026 closing high, about two months ago. Since closing at 6144 on Feb 19 2025, the S&P 500 index is up 5.4%, about the same gain as a conservative bond fund or money market fund.

We anticipate that an attractive stock market buying opportunity is likely to develop later this year, an off-presidential election year.