1/6/2025
By Charles Payne CEO & Principal Analyst

The Magnificent Seven movie borrowed from the Kurosawa classic Seven Samurai to tell the story of good and evil, redemption, cowardice, bravery, and valor against impossible odds.

Like the villagers in The Magnificent Seven, the stock market sought a hero to save the day. Many were looking for a change in Federal Reserve policy to do the trick or perhaps oversold conditions to lure would-be buyers.

Since that October 2022 low, the top ten stocks in the market have been responsible for 59% of the rally, the following ten stocks for another 11%, and the other 482 names for 30% of the gains.

After peaking at $4,766 on December 26, 2021, the S&P 500 had slipped to $3,583 by October 9, 2022. Little did we suspect a course change was on the way with the debut of ChatGPT in November.

To read the full report, contact your account representative, or email Info@wstreet.com

Charles Payne
Wall Street Strategies

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