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The Monday Morning Playbook: Week of May 12, 2025

Leadership

Good morning,

Things are continuing to settle down, with major indexes posting their smallest weekly moves since mid-February, despite a Fed decision, China trade talks, and more. That’s another healthy signal that the lows are likely in, as was last week’s successful test of support for the S&P 500.

We’ll of course look at the technicals for SPX and other major indexes this week, but with the big-picture view unchanged from last week, I want to take this opportunity to take the MMP in a little bit different direction than usual.

In last Thursday’s Stock Trends report, I highlighted seven stocks that were breaking out, despite the short-term chop at the index level.

Today, we’re extending that to the Playbook but tying them together with themes.

Those leadership groups are:

  • Software and cybersecurity

  • Transportation and the new economy

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