Jul. 20, 2025 12:39 PM ETS&P 500 Index (SP500), SPX, DJI, NDX, SPY, DIA, QQQ, IVV, VOO, IWMSP500, SPX, DJI, NDX, SPY, DIA, QQQ, IVV, VOO, IWMErik Conley11.5K FollowersSummaryThe market has rallied sharply since April, but I believe it's overextended and due for a correction later this summer or early fall.Year-to-date, investors have favored blockchain, gold, defense contractors, and non-US stocks, while shunning the US dollar, oil, construction, and cannabis.Participation in the bull market is broadening beyond the 'Mag 7' mega-caps, but continued gains hinge on earnings exceeding lofty expectations.I expect a correction soon, followed by a rebound into year-end, with the market likely finishing around current levels.SlavkoSereda/iStock via Getty ImagesThis week I will break from tradition and look at the winners and losers from a year-to-date perspective, rather than my usual weekly look.As is customary, I will look at the various asset classes, sectors, equity categories, exchange-tradedThis article was written byErik Conley11.5K FollowersTrader, analyst & portfolio manager, from 1975 - 2001. Former head of equity trading at Northern Trust Co. in Chicago. Now a private investor, founder of a nonprofit investor advocacy firm, and private investing coach. It gives me great satisfaction to teach retail investors the same skills and strategies that I used with my high net worth clients as a private wealth manager. It may be a cliche, but giving something back to the community is more rewarding to me than helping very rich people get even richer.Analyst’s Disclosure:I/we have a beneficial long position in the shares of NVDA, 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.CommentsRecommended For You