Michael Batnick
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And finally...
I would conclude that if you're looking at the restaurants or if you're looking at the dollar store, shut off, please.
Or if you're looking at Target or Walmart or Costco, at least today, like I'm not saying in general, I'm saying right now you might be looking at the wrong thing.
Because what I'm looking at to determine the health of the consumer, at least the health of the consumer that is powering the bull market is hotels.
Why?
There's not a hundred million hotels, but there's a few hotels.
There's two that are in the S&P.
It's Marriott and it's, which one is bigger?
No, and Hyatt, I believe, is in the Russell 1000.
OK, look at these charts.
Tell me about the state of the consumer.
Is the consumer spending money?
Is the consumer that matters to the stock market spending money?
The answer is yes.
It also tells you that GLP-1s are a real, real thing.
They're having an impact.
They're having an impact.
Okay.
How did you know?
I look at charts all day long.