The 1-Minute Market Report, September 12,2026

Erik Conley 15K Followers Follow Summary The S&P 500 remains near all-time highs but is showing signs of struggle, with narrowing market leadership and dip buyers preventing deeper pullbacks. Recent gains are concentrated in the Mag 7, while broad market participation has weakened and small/microcaps have underperformed. Energy and Communication Services outperformed last week, with commodities—especially crude oil—attracting flows amid rising macro headwinds. Market sentiment could shift if hyperscalers reduce AI infrastructure CAPEX; monitoring CAPEX trends is crucial for early warning signals. SlavkoSereda/iStock via Getty Images The stock market remains just a short distance from its all-time high, but it’s struggling. Momentum is still positive, but it’s easing back a bit. The number of stocks that are trading above their 200-day moving average This article was written by Erik Conley 15K Followers Follow I spent 30 years in the institutional trenches as a trader, analyst, and portfolio manager, eventually running the equity trading desk at Northern Trust in Chicago. Those decades shaped my approach: stay disciplined, trust the data, and keep emotion out of the way. Since 2009, when I began publishing my stock selections, my portfolio has delivered solid long term results—compounding in the mid teens annually through 2025. Today I manage a 15-20 stock model portfolio where I select stocks that score highly for Quality, Growth, Momentum, Value, and Risk. I use a rules-based framework that helps me build high performing portfolios. My work focuses on systematic thinking, behavioral awareness, and evidence over opinion. For my market outlook and model portfolio updates, visit zeninvestor.org. . Analyst’s Disclosure: I/we have a beneficial long position in the shares of NVDA, AVGO, GOOGL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.