HCM Weekly Market Update | Howard Capital Management & the BuyLine® — Curated for East Valley Retirees
Tailored Investment Solutions from Howard Capital Management and J. Martin Wealth
Located in Roswell, Georgia, Howard Capital Management (HCM) is an SEC-Registered Investment Advisor Firm. They aim to deliver professional money management solutions to individuals seeking growth while maintaining a prudent investment approach. The firm offers the use of the HCM-BuyLine®, developed by Vance Howard, CEO and Portfolio Manager at Howard Capital Management Inc., which has been their cornerstone since 1996. This stop-loss safeguard is crafted to provide timely guidance during market volatility. The HCM-BuyLine® effectively reduces downside risk by moving from equities to cash and cash equivalents while actively identifying opportunities to boost equity exposure during a market upswing.
J. Martin Wealth, based in Arizona, provides fiduciary financial advice tailored to help you meet your financial goals. Led by Jeff Martin, our team focuses on personalized investment strategies that align with your risk tolerance, time horizon, and unique objectives. Whether planning for retirement, managing your investments, or seeking comprehensive financial guidance, we are here to provide solutions that put your best interests first. Serving clients in Gilbert, Chandler, Maricopa, and throughout Arizona, we are committed to delivering transparent, client-centered service.
At J. Martin Wealth Management, serving retirees across Gilbert, Chandler, Gold Canyon and Maricopa, we share these weekly insights to help you understand market movements and how they may impact your retirement plan.
The following commentary was authored by Vance Howard, CEO of Howard Capital Management, Inc., as of the date noted. It reflects his personal views and does not represent the views or recommendations of J. Martin Wealth Management or Wealth Watch Advisors. References to specific index levels reflect HCM’s internal strategy and are not personalized investment advice for any reader of this page. Past performance of the HCM Buy-Line® is not indicative of future results.
Howard Capital - Global Weekly Summary
AI-driven rally persists despite macro risks, geopolitical easing supports sentiment
May 29, 2026
- Posted By: Editorial team
Weekly Market Snapshot
Global equities extended gains in the last week of May 2026, with major U.S. indices reaching record highs, led by continued concentration in AI-linked mega-cap technology and semiconductor stocks. The rally remains structurally narrow, with capital flows heavily skewed toward AI beneficiaries—particularly memory and advanced chipmakers—amid sustained hyperscaler demand and improving pricing power across the semiconductor value chain.
Asia outperformed, supported by strong foreign inflows into Japan and Taiwan’s chip ecosystem, reinforcing the global dominance of the AI investment theme. However, broader market participation remains weak, signaling late-cycle dynamics beneath headline strength.
On the macro front, a provisional U.S.–Iran agreement, including a ceasefire extension and potential reopening of the Strait of Hormuz, eased energy prices and near-term inflation concerns. This helped offset persistent inflation pressures and a still-restrictive Fed stance, sustaining risk appetite despite elevated yields.
Weekly Market Movers — Key Highlights
- China’s industrial profits surged 24.7%, signaling manufacturing resilience.
- UK business confidence improved, though retail demand remained weak.
- Eurozone retail sales contracted, highlighting ongoing pressure on consumers.
- BYD reported weaker earnings amid soft demand and policy shifts in EV markets.
- Asian chipmakers rallied on sustained demand for AI infrastructure.
- JD.com’s Ceconomy deal faced EU regulatory scrutiny, reflecting rising trade oversight.
- Kinetics LNG secured a $125M investment to expand its shipping operations.
Global Updates
- The MSCI All Country World Index continued its upward trajectory, with Asian markets outperforming on strong demand for AI-driven semiconductor stocks. Technology stocks remained the key global driver, supported by sustained demand for memory chips and AI infrastructure.
- The Reserve Bank of New Zealand held rates at 2.25% but issued hawkish guidance, signaling potential tightening ahead.
- UK business confidence improved in May, rising closer to pre-conflict levels, with firms expecting stronger output over the coming year.
- Retail conditions in the UK remained weak, with data indicating declining sales volumes and subdued consumer sentiment.
- Eurozone retail sales contracted in April, reflecting continued pressure on consumer demand.
- China’s industrial profits surged 24.7% in April, highlighting resilience in manufacturing despite broader macroeconomic headwinds.
- Shares of Nio rose following the launch of a new flagship electric vehicle, signaling intensifying competition within China’s EV market.
- JD.com’s proposed $2.6 billion acquisition of German retailer Ceconomy faced deeper EU regulatory scrutiny, underscoring rising trade oversight.
- BYD reported a notable decline in first-quarter earnings, as weaker seasonal demand and policy changes weighed on performance in the global EV market.
- Cisco reported strong Q3 FY2026 results, driven by AI-led demand for networking infrastructure, and raised its full-year guidance.
- Kinetics LNG secured a $125 million investment from Actera Group to support the expansion of its LNG carrier operations.
U.S. Equity
- U.S. equities advanced on optimism around progress in Iran-related negotiations, easing inflation concerns, alongside strong earnings and upbeat outlooks driven by AI-led data center demand.
- U.S. economic growth was revised down to 1.6% annualized in Q1 (from 2.0%), reflecting softer momentum amid inflationary pressures linked to the Iran conflict.
- Mortgage rates rose to a nine-month high, with the 30-year fixed rate reaching 6.65%, as elevated oil prices and rising yields weighed on housing affordability.
- Initial jobless claims rose marginally by 5,000 to 215,000, remaining within the 190,000–230,000 range observed this year.
- Nvidia committed over $6.5 billion toward photonics and optical technologies, aimed at improving energy efficiency and scalability in AI infrastructure.
- Shares of Dell Technologies surged after the company raised full-year guidance and reported stronger-than-expected quarterly results.
- American Eagle Outfitters reported a 2% decline in comparable sales at its flagship brand for the first quarter.
- Progress toward a U.S.–Iran agreement supported risk sentiment, with both sides working toward extending the ceasefire and advancing nuclear negotiations.
- U.S. crude inventories declined by 3.3 million barrels, while Cushing stocks fell by 2.8 million barrels—the largest drop since August 2023.
Corporate Highlights
- The Bloomberg U.S. Aggregate Bond Index rose over the week.
- The U.S. 10-year Treasury yield fell to 4.45% and the yield on the 2-year note fell to 4.02% over the week.
- The U.S. Dollar Index weakened to 98.96 over the week.
Fixed Income
- The Bloomberg U.S. Aggregate Bond Index rose over the week.
- The U.S. 10-year Treasury yield declined to 4.58% and the yield on the 2-year note edged lower to 4.08% over the week.
- The U.S. Dollar Index rose slightly to 99.31 over the week.
Chart data below reflects market conditions as of the date shown. It is provided for illustrative purposes in connection with the commentary above and does not represent current market conditions. It should not be used as the basis for any investment decision.
Wealth Watch: From the desk of Vance Howard
Tech is Stretched, but Rocket Lab is in Orbit
Posted By: Vance Howard - June 01, 2026
The market is in a solid uptrend, but we think it could be overbought and that a pullback period of consolidation is warranted. Technology continues to do much of the heavy lifting and has grown quite stretched, yet the more encouraging development concerns the laggard groups beginning to break out and join the advance, broadening the leadership beneath the surface. Scaling out of winning stocks as they break support is important.
Rocket Lab continues to perform well. As you may recall, I suggested a buy stop on any move above $101.00, and the stock broke above that range and has performed very well ever since. The iShares Software Index ETF (IGV) is making back a lot of ground after a sharp selloff early in the year and looks to be moving higher. Interactive Brokers Group (IBKR) is breaking out of solid base, and we think it is due to move higher.
Trump could be seeking to pressure Iran to accept the original deal sent to Iran’s supreme leader, Mojtaba Khamenei. President Trump has sent tougher proposed terms to Iran for an interim deal, the New York Times reported Saturday night, citing three officials. Trump asked for several changes to the deal during a key meeting Friday, Axios reported late Saturday. The exact changes were unclear but could involve frozen Iranian funds or its nuclear program.
It seems like a resolution to the Iran war is coming together, and that has begun to show in the price of oil and in bond yields. Nevertheless, we do have to keep in mind that even as oil prices come down, there’s going to be shortages of certain distillates such as diesel. I do think that at least for middle-and lower-income U.S. consumers, there are some headwinds emerging.
The April PCE price index rose 0.4% and core up 0.2%, pushing annual headline inflation to 3.8% and the core to 3.3%, well above the Fed’s 2% target and delaying rate cuts. Inflation is being driven by energy shocks and tariffs, with core goods rebounding to 2.8% y/y, keeping overall price pressures elevated. Rising inflation is eroding real incomes and slowing spending, while lower savings and reliance on wealth effects suggest downside risks to consumer demand in 2H26.
The HCM-BuyLine® Explained
Curious how the HCM-BuyLine® works—and whether it fits your investment strategy?
The HCM-BuyLine® is a proprietary, rules-based investment tool designed to help manage portfolio risk by using market momentum indicators. Instead of relying on emotional decision-making, the BuyLine® uses quantitative data to signal when to reduce equity exposure and when to re-enter the market. This can help protect capital during major downturns and participate in uptrends when conditions improve.
For investors seeking an alternative to traditional buy-and-hold strategies, the HCM-BuyLine® offers a more dynamic, tactical investment approach. Its methodology may be especially valuable during periods of volatility or economic uncertainty.
Have you seen this kind of strategy from your current financial advisor? Are you looking for an investment philosophy that adapts to changing market conditions?
At J. Martin Wealth, we believe in aligning your financial plan with tools that are built to adapt. The HCM-BuyLine® is one example of how data-driven investing can support long-term goals while managing downside risk.
Frequently Asked Questions
Q: What is the HCM-BuyLine and how does it work?
A: The HCM-BuyLine® is a systematic, rules-based investment indicator developed by Vance Howard at Howard Capital Management. It uses quantitative market data to signal when to reduce equity exposure during downturns and when to increase exposure during uptrends. Rather than relying on emotion or guesswork, the BuyLine® follows predetermined criteria to help manage portfolio risk. Think of it as a disciplined framework for deciding when to be more defensive (holding cash) or more aggressive (holding stocks) based on current market conditions. It's designed to help protect capital during major market declines while participating in growth when conditions improve.
Q: Is tactical investing right for retirees?
A: Tactical investing strategies can be suitable for certain retirees, particularly those concerned about sequence-of-risk—the danger of large losses early in retirement. For retirees who are drawing income from their portfolio, avoiding major market downturns can be especially valuable since you don't have decades to recover. However, tactical strategies are not right for everyone. They involve more active management than traditional buy-and-hold approaches, and past performance does not guarantee future results. The best fit depends on your individual risk tolerance, time horizon, income needs, and overall financial plan. We recommend discussing tactical strategies with a fiduciary advisor who can evaluate whether they align with your specific retirement goals.
Q: How is this different from what most financial advisors in Chandler or Gilbert offer?
A: J. Martin Wealth Management offers tactical strategies, such as those available through Howard Capital Management, as one option among several. Whether a tactical or more passive approach is appropriate depends on an individual client’s goals, risk tolerance, time horizon, and financial circumstances. We recommend discussing any strategy with a fiduciary adviser to evaluate suitability. The HCM-BuyLine® approach is tactical, meaning it attempts to reduce equity exposure during unfavorable market conditions and increase exposure when conditions improve. This doesn't make one approach "better" than the other—they serve different objectives. Buy-and-hold is simpler and works well over very long time horizons. Tactical strategies like HCM aim to reduce volatility and manage downside risk, which can be especially important for retirees who can't afford to wait years for a portfolio to recover. At J. Martin Wealth Management, we believe in matching the strategy to the client, not forcing every client into the same approach.
Q: Does the HCM-BuyLine® guarantee that I won't lose money in a downturn?
A: No. The HCM-BuyLine® is an investment tool designed to help manage risk, but it does not eliminate risk or guarantee results. All investing involves the potential for loss, including loss of principal. Tactical strategies attempt to reduce exposure during declines, but market conditions can change rapidly, and there may be delays in executing portfolio adjustments. Additionally, moving to cash during downturns means you might miss some recovery gains if the market rebounds quickly. There are trade-offs with any investment approach. The HCM-BuyLine® has been used since 1996, but past performance is not indicative of future results. It's a tool, not a guarantee, and should be evaluated as part of a comprehensive financial plan.
Q: Can I invest with Howard Capital Management directly, or do I need to work through J. Martin Wealth Management?
A: Howard Capital Management is an institutional investment manager based in Roswell, Georgia, and they primarily work with financial advisors rather than directly with individual investors. At J. Martin Wealth Management, we have access to Howard Capital Management strategies as one of several investment approaches we can incorporate into client portfolios. We serve as your fiduciary advisor, building a comprehensive financial plan tailored to your situation, and when appropriate, we may recommend tactical strategies like those offered by Howard Capital Management. Working with us means you get personalized advice, local service in Chandler and Gilbert, and a financial plan that goes beyond just investment management—including retirement income planning, Social Security optimization, tax strategy, and more.
Q: I'm retiring soon in Gilbert—should I be worried about this market volatility?
A: Market volatility in the years immediately before and after retirement is something to take seriously, but worry isn't productive—having a plan is. This period is when you're most vulnerable to sequence-of-returns risk, meaning poor market performance early in retirement can significantly impact your long-term financial security. If you're within 2-3 years of retirement and haven't stress-tested your plan against market downturns, now is the time to do so. Consider questions like: Is your asset allocation appropriate for your timeline? Do you have enough cash reserves to avoid selling stocks in a down market? Are you maximizing Social Security timing? Do you have a tax-efficient withdrawal strategy? These are the conversations we have every day with pre-retirees in Gilbert, Chandler, and across the East Valley. If you'd like a second opinion on your retirement readiness, we offer complimentary consultations to review your situation and discuss whether your current plan accounts for market risk.
Still Have Questions?
Market volatility and investment strategies can be complex. If you'd like to discuss how tactical investing or other risk management approaches might fit into your retirement plan, we're here to help.
Schedule a complimentary consultation with J. Martin Wealth Management:
Serving Chandler, Gilbert, Maricopa, and Gold Canyon.
Disclosure: This FAQ is for educational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. The HCM-BuyLine® is a proprietary indicator and does not guarantee investment results. All investing involves risk, including potential loss of principal. Please consult with a qualified financial advisor to discuss your specific situation.
The HCM-BuyLine® is a proprietary indicator and does not guarantee investment results or prevent losses. All investing involves risk, including the potential loss of principal.
Ready to Learn More?
Schedule a complimentary consultation to explore how the HCM-BuyLine® and other tactical strategies may fit into your overall investment plan.
Who is Vance Howard?
Vance Howard embarked on his professional career in the financial industry in 1992, establishing Chartered Financial Services, Inc. He subsequently founded Howard Capital Management, Inc. in 1999, a fee-only Registered Investment Advisor. Mr. Howard brings expertise in the analysis, creation, and execution of diverse trading strategies.
Prior to his focus on financial services, Mr. Howard founded Delta Waste Services in 1988, a waste management company he later sold in 1992. Additionally, he co-published investment-focused newsletters, "The Savvy Investor" and the "SI Intermediate-term Trader", which garnered an international readership across over 25 countries between 1992-1999.
Demonstrating a commitment to community, Vance has served on the Huntsville, Texas city council for four terms, including two terms as mayor pro tem. His civic involvement extends to roles such as Huntsville's City Finance Chairman, Chairman of the Huntsville/Walker County 911 Emergency Service, and board positions on the Houston/Galveston Economic Development Council and the District 910 Legal Grievance Committee. He is a former President and active member of the Huntsville Rotary Club.
Outside of the professional sphere, Vance collaborates with family members in the operation of the Bar C Ranch in Madisonville, Texas, where they specialize in raising registered longhorn cattle. His leisure interests include travel with his wife and children, cycling, kayaking, scuba diving, and hiking.
“We aim to take emotion completely out of the equation. Trading with emotions, in our opinion, ruins long-term returns.”
— VANCE HOWARD, CEO + PORTFOLIO MANAGER
Disclosure:
Howard Capital Management, Inc issues this communication. It is for informational purposes and is not an official confirmation of terms. It is not guaranteed as to the accuracy, nor is it a complete statement of the financial products or markets referred to. Opinions expressed are subject to change without notice. Howard Capital Management, Inc. may maintain long or short positions in the financial instruments referred to and transact as principal or agent. Unless explicitly stated otherwise, this is not a recommendation, offer, or solicitation to buy or sell, and any prices or quotations contained herein are indicative only. To the extent permitted by law, Howard Capital Management, Inc. does not accept any liability arising from using this communication. Howard Capital Management is an SEC-registered investment advisor that only does business where it is properly registered or is otherwise exempt from registration. SEC registration does not constitute an endorsement of the firm by the Commission nor indicates that the advisor has attained a particular skill or ability. Past performance is no guarantee of future results.
This newsletter is a publication of Howard Capital Management, Inc. It should not be regarded as a complete analysis of the subjects discussed, nor should the newsletter be construed as personalized investment advice. All expressions of opinion reflect the author's judgment as of the publication date and are subject to change. It should not be viewed as legal or tax advice. Always consult an attorney or tax professional regarding your legal or tax situation. There can be no guarantee that the HCM-BuyLine® indicator will perform as anticipated. Stop-loss protection will not necessarily limit your losses to the desired amounts due to the limitations of the HCM-BuyLine®, market conditions, and delays in executing orders. It is not an actual stop-loss order that automatically sells securities in the portfolio at a certain price.
Past performance is not indicative of future results. The material above has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable, though its accuracy is not guaranteed, and J. Martin Wealth Management makes no representation or warranty as to the accuracy or completeness of the information, which should not be used as the basis of any investment decision. Information contained on third-party websites that J. Martin Wealth Management may link to are not reviewed in their entirety for accuracy, and J. Martin Wealth Management assumes no liability for the information contained on these websites. Opinions expressed in this commentary reflect subjective judgments of the author based on conditions at the time of writing and are subject to change without notice. No part of this material may be reproduced in any form or referred to in any other publication without express written permission from J. Martin Wealth Management. For more information about J. Martin Wealth Management, including our Form ADV brochures, please visit https://adviserinfo.sec.gov or contact us at 480-630-6177.