Message from Jon

Market Update:

This past week kicked off earnings season, and it was met with a yawn. Financials were decent, but healthcare was hit hard.2,3 With it being a short week heading into a holiday weekend, the markets were pretty much jogging in place, in our opinion.

We saw a tick downward on Stormguard's reading, which was interesting but not actionable.

Dorsey/Wright is indicating that 40% of the sectors they follow are in an overbought state (as of 4/18/19), which would seem to suggest the possibility of increasing heat building in the equity markets. I guess we will have to wait and see if a correcting, sideways or increasing market climate awaits.

Summit Update:

We are pleased to announce a new intern beginning with us in the summer. Dominik Sochurek is graduating from Purdue, after studying Financial Engineering.

Devin McCardle, our recent intern, has decided to join the US Air Force, and we couldn't be more proud.

Till we speak again, enjoy the onset of warmer weather!

Jon

Sources:

A Mild Week for the Market

WEEKLY UPDATE - APRIL 22, 2019

The Week on Wall Street

A short and relatively placid trading week wrapped up Thursday, with the major indices turning in mixed performances. The S&P 500 retreated 0.08%, the Nasdaq Composite advanced 0.17%, and the Dow Jones Industrial Average gained 0.56%. The MSCI EAFE index, tracking foreign stocks in developed countries, added 0.65%.[1][2][3][4]

Nothing really catalytic emerged to drive the market last week, and volumes were low.

Earnings Season Update
More than 78% of S&P 500 firms reporting so far this earnings season have surpassed analyst expectations, according to FactSet. Since guidance tends to be conservative, there is the possibility that more companies will beat forecasts than expected.[5]

The initial public offering market remained strong. Two high-profile technology companies came public on Thursday and were met with enthusiasm from investors. As mentioned in recent weeks, 2019 could be a banner year for IPOs.

Retail Sales Rebound
March's 1.6% gain was the biggest monthly advance seen since September 2017. Sales of cars and gasoline rose more than 3%.

If the upcoming March consumer spending report is also impressive, concerns about the current business cycle peaking may recede.[6]

Final Thought
Nearly 800 companies will report earnings this week, including some high-profile names. This kicks off five weeks of active daily earnings reports.

Investors will watch corporate profits, guidance, and fundamental indicators with great interest, to try and glean whether the economy is strengthening or softening. Reports on first-quarter economic growth and existing home sales will command particular attention.

THE WEEK AHEAD: KEY ECONOMIC DATA
Monday: March existing home sales figures from the National Association of Realtors.
Tuesday: March new home sales numbers from the Census Bureau.
Friday: The first estimate of first-quarter gross domestic product (GDP) from the federal government, and the final April University of Michigan consumer sentiment index, a gauge of consumer confidence levels.

Source: Econoday / MarketWatch Calendar, April 18, 2019
The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision. The release of data may be delayed without notice for a variety of reasons, including the shutdown of the government agency or change at the private institution that handles the material.

THE WEEK AHEAD: COMPANIES REPORTING EARNINGS
Monday: Halliburton (HAL), Kimberly-Clark (KMB), Whirlpool (WHR)
Tuesday: Coca-Cola (KO), Harley-Davidson (HOG), Procter & Gamble (PG), Twitter (TWTR), Verizon (VZ)
Wednesday: Anthem (ANTM), Boeing (BA), Caterpillar (CAT), Facebook (FB)
Thursday: 3M (MMM), AbbVie (ABBV), Amazon (AMZN), Starbucks (SBUX)
Friday: American Airlines (AAL), Colgate-Palmolive (CL), ExxonMobil (XOM)

Source: Morningstar.com, April 18, 2019
Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Any investment should be consistent with your objectives, time frame and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.

Fountain Pen

"If you're offered a seat on a rocket ship, don't ask what seat! Just get on."

- Sheryl Sandberg

Fork and Knife

Spectacular Blood Orange Tart with Toasted Meringue

Serves 8
Ingredients:
Crust

¾ cup (1½ sticks) unsalted butter, melted
5 Tbsp. sugar
½ tsp. salt
1¾ cup, plus 2 Tbsp., all-purpose flour

Filling

1⅔ cups sugar
¼ cup, plus 1 Tbsp., cornstarch
3 tsp. all-purpose flour
¼ tsp. salt
2 cups water
1½ cups fresh blood orange juice
3 Tbsp. unsalted butter, softened
5 large egg yolks, lightly beaten

Meringue

5 large egg whites
½ tsp. cream of tartar
⅔ cup sugar
1 tsp. vanilla extract

Directions:
Crust

Preheat oven to 350˚F.
Blend together the butter, sugar, and salt in a large mixing bowl.
Add flour and stir until the mixture comes together into a soft dough.
Carefully press the dough into the bottom of a 9-inch springform pan, going up the sides to about 2 inches.
Press evenly along the bottom and sides of the pan, so the dough is about ¼-inch thick. Cover and refrigerate for 30 minutes.
Once the dough comes out of the refrigerator, line the inside of the unbaked shell with parchment paper, and put in about 3 cups of any type of dry beans or rice for weight.
Place the tart shell onto a baking sheet and bake for 20 to 25 minutes.
Remove the beans and parchment and continue to bake for an additional 20 to 25 minutes, or until golden brown, then cool completely.

Filling

Put the sugar, cornstarch, flour, and salt, with water and blood orange juice, into a saucepan over medium-high heat.
Whisk together and bring to a boil, stirring frequently until the mixture is thick enough to coat the back of a spoon.
Blend in the butter and stir until smooth.
Whisk egg yolks together in a mixing bowl.
To temper the batter, pour ½ cup of the egg yolks into the blood orange mixture while whisking.
Continue to temper by whisking the egg mixture into the blood orange mixture, then lower heat to medium and simmer, while whisking until thick.
Once the mixture is thickened, remove from heat and cool for 10 minutes, then pour into the baked tart shell.
Refrigerate the tart - it should set in about 4 hours, but don't refrigerate longer than 48 hours.

Meringue

Prepare the meringue with a stand mixer, using the whisk attachment. Beat the egg whites until frothy, then add cream of tartar.
While continuously beating, add sugar, 2 Tbsp. at a time, until it is dissolved into the mixture.
Add vanilla, and continue to beat until stiff, white peaks form.

To serve, top the tart evenly with the meringue, creating peaks. Lightly toast the peaks with a brulee torch.

Recipe adapted from Spoon Fork Bacon[7]

Document

Tax Refunds

About 80% of Americans will receive a tax refund this year. If you're one of them, you may have questions about "where's your refund"?
It sounds obvious, but "Where's My Refund?" is actually the best place to start. Visit www.irs.gov/refunds to find the latest refund information. Here are some common questions about the information that the IRS Where's My Refund? service can provide:
When will my refund information be available? The information will be available 24 hours after you file electronically or 4 weeks after you mail a paper return.
How will I know my tax return is processed? Where's My Refund? will report on your tax return, from receipt to completion. You'll find out whether your return is in received, approved, or sent status.
How often does "Where's My Refund?" update? Once per day, usually in the evening.
Can I get information faster by calling? No. IRS phone representatives won't have access to your refund status until 21 days after you filed electronically or 6 weeks after you mailed your paper return.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS.gov[8]

Golfer

Everyone Needs a Cure for the Shanks

Most people would rather not acknowledge their shanks on the course. But believe it or not, even the ugliest of shanks is fixable.

The first thing you need to do is take a break from the course and head to the range. It's time to check in on some basics. Make sure your posture is correct, with your chest up during the swing. Try not to grip the club too tightly, and always make sure your weight isn't toward your toes.

Set up like you're going to hit it, and then put a tee in the ground just outside the toe of the club. While you're swinging, think about keeping the grip end of the club near your body. The trick is to miss the tee at impact, so you'll hit the ball in the center of the face.

Tip courtesy of David Leadbetter, PGA | Golf Digest[9]

Medical Cross

Practice Breathing for Serenity

Breathing deeply is a simple practice for calming your mind and body as well as reducing stress. There are many breathing techniques that can be used with practicing yoga, meditating, or even, on their own. Here is one simple technique can help calm the nervous system, and you can practice it wherever you want - The 4-7-8 Relaxing Breath:

Exhale completely through your mouth, making a whooshing sound.
Close your mouth and inhale quietly through your nose, filling your lungs as you quietly count to four.
Next, hold your breath for a count of seven.
Exhale completely through your mouth. Push all the air out, making a whoosh sound to a count of eight. You've completed one breath cycle.
Inhale again and repeat the cycle three more times, for a total of four breaths.

There are many other breathing techniques you can research and try for reducing anxiety, improving lung capacity, and achieving a calmer state of mind.

Tip adapted from www.drweil.com[10]

Leaf

How to Save and Use Gray Water

Living more sustainably includes the conservation of fresh water and reusing water wisely. Collecting rainwater and using water- and energy-efficient appliances are ways to conserve. You can further your conservation efforts by using gray water - the water that's used for laundry, cleaning, and bathing, which would normally go down the drain. Here are some simple ways to start:
(Be sure to check your local rules and regulations before using gray water.)
Catch "warm-up" water: This is the water that runs down the drain while you wait for it to warm up. Keep a bucket or large bowl nearby and use it to water your plants.
Gray water from the bathtub: You can integrate a gray water plumbing system, but you don't have to. If you simply plug the drain when you shower, you can bail out some of that water into a large bucket and water your landscape.
Gray water from the laundry: Depending on the proximity of your washing machine to the yard and assuming you are not using harsh chemicals in your laundry, you can implement a laundry-to-landscape drainage system with a hose, which you can manually move to different parts of your yard. If you're considering this, you should consult a professional.
Tip adapted from TreeHugger[11]

Share the Wealth of Knowledge!

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Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Diversification does not guarantee profit nor is it guaranteed to protect assets. International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors. The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. The DJIA was invented by Charles Dow back in 1896. The Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of stocks of technology companies and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indices from Europe, Australia, and Southeast Asia. The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. You cannot invest directly in an index. Consult your financial professional before making any investment decision. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors. These are the views of Platinum Advisor Strategies, LLC, and not necessarily those of the named representative,Broker dealer or Investment Advisor and should not be construed as investment advice. Neither the named representative nor the named Broker dealer or Investment Advisor gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your financial advisor for further information. By clicking on these links, you will leave our server, as the links are located on another server. We have not independently verified the information available through this link. The link is provided to you as a matter of interest. Please click on the links below to leave and proceed to the selected site. Dorsey/WrightDorsey, Wright & Associates, LLC is a subsidiary of Nasdaq, Inc. Nasdaq, Inc. is a publicly-traded corporation (NDAQ). Its subsidiaries include The Nasdaq Stock Market LLC, Nasdaq PHLX LLC and Nasdaq BX, Inc., all of which are SEC-registered national securities exchanges, Nasdaq Execution Services, LLC, a registered broker-dealer that routes orders in equities and options to the appropriate market center for execution, Chi-X Canada ATS Ltd., a Canadian alternative trading system for the trading of TSX and TSXV-listed securities, and Nasdaq Futures, Inc., a CFTC Designated Contract Market for the trading of energy futures in oil, gas, and U.S. power. Nasdaq, Inc. also has subsidiaries that are foreign securities exchanges that receive listing and trading fees.Dorsey Wright will not publish research or make recommendations concerning NDAQ, nor trade the security for its Investment Management clients. Dorsey Wright may, however, publish research on, recommend or trade other securities listed on the Nasdaq exchanges, which receive fees from the listed companies and futures. Dorsey Wright will not take into account where a security is listed or traded in exercising its independent judgment for clients. In addition, Dorsey Wright does not manage or control where clients' broker/dealers route orders for execution. Accordingly, client orders may be routed to the subsidiaries of Nasdaq, Inc. for execution. These markets receive trading fees.Nasdaq, Inc. and its subsidiaries receive index licensing fees from investment product sponsors, as well as index calculation fees from index providers. These fees may be asset based. With respect to ETFs and other investment products for which Nasdaq, Inc. or its subsidiaries may receive licensing or asset-based fees, Dorsey Wright may, from time to time, (i) recommend such an ETF or other investment product in research for which Dorsey Wright receives fees; (ii) include such an ETF or other investment product in models or indexes for which Dorsey Wright receives an asset based fee; and/or (iii) recommend or include such an ETF or other investment product in the investment management accounts. While Dorsey Wright does not receive any portion of Nasdaq's fees directly, the firm may indirectly benefit as a subsidiary that is part of a Nasdaq business unit. To manage this potential conflict of interest, in the case of Dorsey Wright research or index and model licensing, Dorsey Wright would only include the Nasdaq investment product if the product helps to meet the stated objectives of the strategy and it otherwise meets the rules-based methodology associated with the strategy. In the case of the investment management accounts, Dorsey Wright will only recommend or include the Nasdaq investment product when the recommendation is suitable and meets the client's stated investment objectives. Dorsey Wright will not take into account the fees received by Nasdaq, Inc. and its affiliates in exercising Dorsey Wright's independent judgment for clients.Some performance information presented on this website is the result of back-tested performance. Back-tested performance is hypothetical and is provided for informational purposes to illustrate the effects of the strategy during a specific period. The hypothetical returns have been developed and tested by DWA, but have not been verified by any third party and are unaudited. Back-testing performance differs from actual performance because it is achieved through retroactive application of a model investment methodology designed with the benefit of hindsight. Model performance data (both back-tested and live) does not represent the impact of material economic and market factors might have on an investment advisor's decision making process if the advisor were actually managing client money. Past performance is not a guide to future performance. Future returns are not guaranteed, and a loss of original capital may occur.There are risks inherent in international investments, which may make such investments unsuitable for certain clients. These include, for example, economic, political, currency exchange, rate fluctuations, and limited availability of information on international securities. 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Remember, in exchange for receiving the premium of having sold the calls, the investor is obligated to sell the stock if the option is exercised. The relative strength strategy is NOT a guarantee. There may be times where all investments and strategies are unfavorable and depreciate in value. There may be instances when fundamental, technical, and quantitative opinions may not be in concert. AlphaDroidNotice: Your use of this site is considered evidence that you accept our Terms of Use and Privacy Policy, and is considered equivalent to your signature. AlphaDroid, Merlyn.AI, True
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[1] quotes.wsj.com/index/SPX

[2] quotes.wsj.com/index/DJIA

[3] quotes.wsj.com/index/COMP

[4] quotes.wsj.com/index/XX/990300/historical-prices

[5] www.cnbc.com/2019/04/18/stocks-market-earnings-retail-sales-and-jobless-data-in-focus.html

[6] www.reuters.com/article/us-usa-economy-retail/us-retail-sales-post-biggest-gain-in-one-and-a-half-years-in-march-idUSKCN1RU1GI

[7] www.spoonforkbacon.com/2017/03/blood-orange-tart-with-toasted-meringue/

[8] www.irs.gov/refunds/tax-season-refund-frequently-asked-questions

[9] www.golfdigest.com/story/how-to-cure-the-shanks-there-we-said-it

[10] www.drweil.com/health-wellness/body-mind-spirit/stress-anxiety/breathing-three-exercises/

[11] www.treehugger.com/green-home/how-reuse-grey-water-home-and-yard.html

Summit Financial Group
Summit Financial Group of Indiana
4050 Britt Farm Dr
Suite C
Lafayette, IN 47905
866-582-5721
jon@summit-fp.com
http://www.summitfinancialgroupofindiana.com

Securities offered through Regulus Advisors, LLC. Member FINRA/SIPC. Investment advisory services offered through Regal Investment Advisors, LLC, an SEC Registered Investment Advisor. Registration with the SEC does not imply any level of skill or training. Regulus Advisors and Regal Investment Advisors are affiliated entities. Summit Retirement Advisors, LLC and Summit Financial Group of Indiana are affiliated entities. Summit Retirement Advisors, LLC and Summit Financial Group of Indiana are independent of Regulus Advisors and Regal Investment Advisors.

Message from Jon

Market Update:

Summit Update:

A Mild Week for the Market

WEEKLY UPDATE - APRIL 22, 2019

Phase 1 – Where You Are

Phase 2 – Your Retirement Planning Needs

Phase 3 – Finalizing Goals and Details

Phase 4 – Putting Your Retirement Investments into Action

Phase 5 – Keeping Your Plan Effective into the Future