Tarrific

DANO WEIR: Thanks so much for checking out On The Markets from Sonoma Wealth Advisors. It is Friday, May 23rd. We're heading into Memorial Day weekend, and we are about to take a look at the markets, all of the markets, On The Markets. But really, are their markets even, do they even matter anymore? Is it all just tariff or not?

DANO WEIR: We're going to look at how things are, as we say, terrific at the moment, and that is not necessarily a good thing. The S&P about where we expect. Gold not doing what we expected however perhaps approaching all-time highs mortgages back up we'll get into all of it with Daren Blonski in just a moment after this All righty, and I realized I forgot to introduce myself.

DANO WEIR: I'm Dan O'Weir. I'm the marketing director for the firm. Chris Sipes on assignment on the road this weekend. But we are joined by co-founder of Sonoma Wealth, Daren Blonski. Daren, I thought we were done with tariffs, but here comes Trump again with new, I almost want to call them allegations. He's launching more tariff missiles.

DAREN BLONSKI CFP®: Yeah, I mean, he came out last night on his True Social and said that Europe needs to pay a 50% tariff, which is kind of interesting. I'm not quite sure where to go with that and what that all means given that We're basically picking fights with everyone across the world. But, hey, maybe he's got a grand strategy here.

DANO WEIR: And also taking some shots at Apple as well, who said that, OK, well, we're not going to do China, but we're going to do production in India. And Trump said, no, you're going to do it in America.

DANO WEIR: And so along with the EU threat, he said he may do a 25 percent penalty of some kind against Apple specifically, which I don't know if you can really tariff a company. But Who knows these days? So we decided to call this week's episode Terrific because, Daren, I don't know if you know this or not, but the word terrific now obviously means great, wonderful.

DANO WEIR: Many moon ago, it originally meant terrible. It meant terrifying. It meant awful, frightening. So it felt like some great kind of double dual meaning here this week with tariffs both running and maybe not running the market.

DAREN BLONSKI CFP®: Yeah, kind of interesting, though, that the market really didn't respond in a measurable, significant way, right? I mean, you could say that the market responded, but how much it responded, I think, is debatable. I think what the bigger news that we're seeing this week, rather than the tariffs, are the interest rates are back up and inflation expectations are increasing again.

DAREN BLONSKI CFP®: And that's problematic for this administration and what they're trying to achieve. So this is the 30-year government bond, and you can see It went to an all-time, or I guess most recent, let's just double confirm we're on an all-time. No, not all-time, excuse me.

DAREN BLONSKI CFP®: So since we haven't been, well, we were up this high back in August of last year, we came back up. We haven't been this high since 2003. I think the headline I saw when this came across was the last time we saw the 30-year rate this high was 2007. Why is that problematic? Well, it's problematic because... When rates go high, mortgages go high.

DAREN BLONSKI CFP®: And when mortgages go high, the real estate market locks up. And we've already had a very difficult couple of years in the real estate market. So the idea that we're now going to see things lock up again in the real estate market further, that becomes problematic for overall health of the economy. And I guess we have some recency bias here, but the fact that...

DAREN BLONSKI CFP®: Right before the 2008 crisis, we saw rates go this high, and then from there on, rates went down because it crushed the market. But we haven't seen rates this high since then, although they were coming down since the Carter administration. You can see all the way in the last time we saw them this high was here in August.

DANO WEIR: Is this the overnight rate that we're looking at here, or is this a 30-year bond, or is it one and the same?

DAREN BLONSKI CFP®: This is the 30-year bond. So this is the market. So this is what 30-year debt. Looks like, right? So then what happens is you have your federal funds rate, right? Set at 433. So the Fed funds rate is down at 433, but the market is actually saying, well, a 30-year bond.

DAREN BLONSKI CFP®: Is going to pay a little bit more, but not that much more. But that put our mortgage rates up. And I believe in this chart, it's not showing it, but I believe I was seeing 7.26 somewhere in range yesterday on the mortgages, 30-year fix. Well, that's problematic, right?

DAREN BLONSKI CFP®: The affordability of real estate is already a difficult thing and that doesn't help it any.

DANO WEIR: Yeah. I think I just, I always try to ask that question because I think for some people, You know, if you're busy with your life, all you hear is interest rates are high. And so you go, well, you know, if I want to go check, you know, the price of a share of Apple right now, I can literally go check it. No big deal. Well, where do you go necessarily to check mortgage rates?

DANO WEIR: Well, there's like this complex series of things which indicate, well, this means this, but they actually sell it above this. And actually the market is disagreeing with what this rate is. And so I always try to nail that down that it's a little bit of a... Ouija board when it comes to figuring out what rates are right now.

DAREN BLONSKI CFP®: Yeah, well, there's the rates they set at the Fed funds rate, right? And then there's the rates that the market set. And the market rate is largely dependent upon demand. And demand for that bond, if there's less demand, then rates have to go up.

DAREN BLONSKI CFP®: But with last week, with Moody's downgrading our debt, so we're no longer beautiful, triple A rated US debt. Then that creates less demand on our treasuries, which means the yields have to go up. And when yields have to go up, that becomes problematic, right? Because then it carries through the entire economy.

DAREN BLONSKI CFP®: So we've been talking for a couple months here about oil and where oil's at. And this is the U. S. Oil chart. I'm looking at what a barrel of crude WTI oil is paying. And we're right around 61 right now.

DAREN BLONSKI CFP®: And that is, we've been watching it break below here, right? So we'd expect if we're headed for a session, that we'd see that. Dan, I'm going to change my ear piece real quick.

DANO WEIR: Yeah, that, that happened to me for some people who do or don't know. I used to work in radio for many years. And, when you work in radio.

DAREN BLONSKI CFP®: Dan, can you hear me? Okay.

DANO WEIR: I gotcha. Can you hear me, buddy?

DANO WEIR: Yeah, maybe not.

DAREN BLONSKI CFP®: All right. Can you hear me okay, Dan?

DANO WEIR: I can. Can you hear me?

DAREN BLONSKI CFP®: Dan, can you hear me?

DANO WEIR: I can, but can you? Oh, boy.

DAREN BLONSKI CFP®: Yes, yes. Sorry about that.

DANO WEIR: Okay, there he is.

DAREN BLONSKI CFP®: I could not. The earpieces I had in were just like creating. They were going on and off on me. I had to take them out. Sorry about that, everyone.

DANO WEIR: Let me just finish the story for a second. I was filling time with a story real quick. When I worked in radio for a long time, and you may not realize it, but whenever you're working anywhere on a microphone, you have headphones on so you can hear yourself.

DANO WEIR: And if you're sitting there talking and hearing yourself back in your own head, if there's any slight, if it's off, if it's delayed, if it's clicking or anything, it's maddening. So I totally get why you kind of flip something real quick like that.

DAREN BLONSKI CFP®: Yeah, like you cannot hear yourself even think, right? So like getting in when you're, let alone when you're trying to stare at a bunch of charts and you're hearing yourself talk, it's just not. A good thing. So anyway, US oil chart. So when we're looking at USWTI crude oil, well, right.

DAREN BLONSKI CFP®: So that our homes that we consume are full of oil products. And so when oil is going down, that typically means that there's less demand on it. Right. And so there's been this kind of descending triangle, we call it on the chart for a while here, you can see this kind of triangle that's been descending and then we broke down.

DAREN BLONSKI CFP®: So what this is kind of signaling or making us potentially think is that we've got weakness in the markets, in the oil markets in particular, and we've got weakness in the oil markets.

DAREN BLONSKI CFP®: That suggests that maybe there's a recession headed our way. There's less demand. You can see, you could also say that this is kind of a double top right here, and then there's the neckline, and it broke right there. So that chart pattern for oil doesn't look good. I guess that's good for gas prices, but not good for the overall economy.

DAREN BLONSKI CFP®: When we look at the S&P 500, though, for the week, let's take a look at that. So the S&P 500 had not a great week in the scheme of things here. We're just going to daily charts, and you can see. So this is Friday, Thursday, Wednesday, Tuesday, Monday. So Monday looked all right. Thought we were going to break it, and it's been down from there.

DAREN BLONSKI CFP®: Now, last week, I talked about a gap on the chart, right? And I talked about how. When the market opened up on Monday, this candlestick here, we had a huge gap up from the Friday close down here. And usually when you have those gaps, the market goes up, comes back down, tests it. And if it's going to go higher, then it's going to resume higher.

DAREN BLONSKI CFP®: But it wants to test and make sure that there's buyers in this area first. And interestingly enough, we did get kind of a test there this week. So some might say, oh, the market's headed back down. Well, not necessarily. One could argue that it's consolidating.

DAREN BLONSKI CFP®: Interestingly enough, though, so this was the all-time high in the market back in February that we hit February 19th. This was the low, most recent low from March 7th. And you can see the market's now retraced over 75% of that down movement in the market. Interestingly, When we traded up today, we went down, we found support on around 574 on the SPY chart.

DAREN BLONSKI CFP®: And then we traded back up and then got rejected at the 75% retracement line. So that means that that's 75% retracement from this market high to this market low, moved back up above 75% to, well, almost 90% retraced, came back down and tested that. So. I'm not particularly concerned about the S&P at the moment. That doesn't look necessarily like weakness.

DAREN BLONSKI CFP®: More consolidation. What we'd want to be watching, if this is our downtrend line, we want to be watching that this retracement's happened and Trump kicks in some more terrorifics right on time, and then the market goes down, and then we revisit this low. So that's, I think, what's on table.

DAREN BLONSKI CFP®: And until we break and poke our head above the all-time high, I think that potential reality is in front of us. When we look back historically at the S&P 500, and you can go back to times like during 2001, 2008, where we had a more kind of concerted sell-off, you can see that if we just increase up on this chart here with you.

DAREN BLONSKI CFP®: So let's take 2008 as a good example. So you had the first kind of multi-month sell-off. And then you had a retracement and then another sell-off, right? So you always get some level of retracement. The question is, how far that retracement goes? And if we look at in this case...

DANO WEIR: Retracement is after a big drop, it comes back a little bit, right? Start to come back up. Is that what retracement means?

DAREN BLONSKI CFP®: Yeah, so a retracement is if we go down, right? So we start off the all-time high, then we go down to this area on the chart. And so in this case, we came down to 90 on the SPY. And then it retraces up that move. So in this case, you can see the market retraced back up and it got to 61.8, which is that Fib line, and then rolled back over.

DAREN BLONSKI CFP®: In this case, if we were comparing this fractally to what we see right now, the market retraced, went back up to 75, up north into 90, and then came back down. So until we break that all-time high again. We're not out of the woods. There is precedence to suggest that the market could continue to go down.

DAREN BLONSKI CFP®: We really want to see that all-time high be broke because, in theory, until we're making a higher high, we're just making a lower high, right? Sounds kind of stupid, but that's the reality. So you can see we traded down over these three months. We had this long candlestick. We retraced all the way back to here, and now we've rolled back over a little bit.

DAREN BLONSKI CFP®: Although I wouldn't say it significant. The fact that this was bought up. So see this long, this is called a candlestick, right? And this is called the wick of a candlestick. And what it's doing is showing during that month of time that the market bought back up. So at some point during this month, the market was all down here at 482.

DAREN BLONSKI CFP®: And then it got bought and moved back up to close the month out all the way back up here at 554. And so that's the retracement. Candles suggested that that was a preliminary bottom and it got bought up. So I think right now you can only look at this and still be positive about the market going up.

DAREN BLONSKI CFP®: But in order for us to feel long term more confident, we got to break above an all time high, at least this area right here. Or we at least need to get above this trend line here that's been a long term trend line for the market. At least since 2019.

DANO WEIR: Can you show me the daily again? Can you show me the daily again?

DAREN BLONSKI CFP®: Yep.

DANO WEIR: I think what's important to show, and maybe write in on today, is in the sort of the purpose of this episode is asking the question, and we don't necessarily have the answer, but I think there is this idea that there's us and them. And there's the president of the market and the president runs the market and he's pulling all the strings. And these tariffs are the ones are his new version of a tax.

DANO WEIR: And he's manipulating everything. And that's very fearful if you believe that. But what we've talked about over the past several weeks of this incident is that the market is taking in new information, especially when it's brand new. The market there does seem to be freak outs, but it's the same things keep happening. The market kind of just like, yeah, whatever.

DANO WEIR: And I think today is such a perfect example where he's these are pretty big, you know, pretty big news, 50 percent on the EU. And we're going after Apple. I think maybe a month ago, that sends the market a lot lower. And today it's just like, all right, fine, we won't do all-time highs. You know, it seems like there's a callousness that's being developed.

DAREN BLONSKI CFP®: You know, it's so interesting, Dan, and I just, I'm always kind of blown away with the markets. And so this is the MEGS chart. And so the MEGS is the Magnificent Seven, which is Apple, Amazon, Google, NVIDIA. Netflix, Tesla. So these were those stocks that really drove the market higher the last few years. And we've been in a downtrend in the mags. This was a real down market here.

DAREN BLONSKI CFP®: But we came back up right up to this trend line and got resisted right here. And then the market sold off. And I just find it fascinating the timing of something like Trump saying, hey, you know, bad Apple, you need to come build things here in the United States. And if you don't, we're going to make it hurt.

DAREN BLONSKI CFP®: And then just happened to coincide with this trend line that the MAG's Magnificent 7 stocks were looking at. And then lo and behold, that trend line, you get a sell off at resistance. I'm always amazed at just like the timing of these things that happen and how they just tend to fall around these chart patterns. And that's what makes chart patterns chart patterns, right? So when you look at like oil. Right?

DAREN BLONSKI CFP®: Like we were talking about earlier and you say, well, we've had this huge descending triangle going on and we don't know what's going to happen, but something around here is going to happen given the weakness in oil. And then eventually something happens and you're like, oh, okay, well that makes perfect sense now in hindsight. And that's the way the market seems to function and run.

DAREN BLONSKI CFP®: So we talked about gold when we came in earlier today. And when we look at gold, this is You can see this was the all-time high in gold. And then we revisited it here after it sold off. And then we made another attempt right here. And this down trend line is what you need to be watching in gold. So right now that trend line is at $3,300 per ounce.

DAREN BLONSKI CFP®: And will continue to be an important trend line. So you could see something like this. Market sells off in gold, comes back up. Sells off and then breaks out or breaks down. And so you can see that descending, much like oil, that descending pattern happening. And somewhere in this range, and we're getting closer now because volume buyers and sellers are getting closer and closer together in price.

DAREN BLONSKI CFP®: What happens is they get closer and closer together in price and then someone steps in the market and is what a short squeeze effectively is. And then someone pushes it over the price and that runs it up. And once it breaks that trend line, that's when you see. Buyers step in and you see us go to the next high, all-time high.

DAREN BLONSKI CFP®: And so given that we're seeing this descending trend line and there tends, seems to be this continued attack at that trend line, that tells me that the upper of this descending triangle is getting weaker, meaning that the more often that it goes up there, that strength, right? It's buyers stepping in and buying, stepping in and buying, and eventually it will break over.

DAREN BLONSKI CFP®: So I'm not ready to say gold is done yet based upon this chart. Whereas a couple of weeks ago, or I guess a couple of days really. Last week. Yeah. See right here? So this was a double top, and then it came down in, and it never sold off below that neckline. This is the neckline. Let me see if I do a better chart for you here.

DAREN BLONSKI CFP®: Make this more sensical all right so last week what we saw in the charts was okay we got our double top right so if you have your double top here and then this being the neckline right here we traded down into here and this is where we were sitting last show like oh that's looking like weakness if it breaks at that neckline you're going to get a move down to three thousand i think believe that's what we said on the show right and then What happened instead is the market traded back up, got that hit up to that resistance, and then stopped right there.

DAREN BLONSKI CFP®: So that tells you there's strength. There's buyers stepping in when it goes lower. There's people willing to buy gold right here at $3,200 an ounce. And what'll happen is as price gets closer and closer, it's more likely it gets broken. It breaks out.

DAREN BLONSKI CFP®: So that's why gold might not be dead. There might be more to come with gold. Interestingly enough, with inflation going up again and rearing its ugly head, we find the strength in the chart. Much like I was talking about, you just find these like... Serendipitous moments where the market just all of a sudden recovers.

DAREN BLONSKI CFP®: Apple, we were talking about a few minutes ago with Trump taking on Apple and then wanting to manufacture Overseas and Trump not liking that. You can see this double top right there, and you can see we're right under neckline. So if that breaks, then you would see this probably move down to 170, somewhere in that range, which looks possible.

DANO WEIR: They got doubly bad news this week because they, ChatGPT announced they bought a startup from the original iPhone designer. So the thought is that ChatGPT is going to be making their own phone soon. And so I messaged both you and Chris when this all happened. And I was like, well, Trump's going after Apple and ChatGPT is making their own phone. So probably time to buy Apple.

DANO WEIR: Not that's not investing advice but it's like oh this is this is all like seeming like oh it's all done and that and too many times it's like oh you know exxon got delisted and then had the best run it's had in 30 years so you know it can seem one way but certainly not necessarily a good week for Apple per se you know what's interesting is stocks actually do better once they're delisted historically.

DAREN BLONSKI CFP®: Right right which is just fascinating right whereas stocks that when they get listed, I've had many, many times clients call me and say, hey, this stock's going to get added to the S&P. I just saw it. Should I buy it?

DAREN BLONSKI CFP®: No, actually, that's not a good time to buy generally because generally it goes down after it's been listed. And we saw that with Tesla. If you go back to Tesla and look at it over when, as soon as it got listed, like that was the high, I think it was December of that year, and then it went down from there.

DAREN BLONSKI CFP®: And it gets more difficult, right? Before it gets listed, it's much easier for the market to play its shenanigans on the stock. But once they can't play the shenanigans anymore with short-squeezing people, you tend to see it go down when it gets added to the index.

DAREN BLONSKI CFP®: So what you think should be happening in the markets... Isn't necessarily correct, right? Like it's what seems to be logical sense as investors isn't always the case. So when we look at one day performance, you can see Apple really being the MAG seven stock that got pummeled. And then you've got your other Magnificent Seven stocks that didn't do well.

DAREN BLONSKI CFP®: I'm really only saw industrials and utilities do good, which is technically risk off behavior, consumer defensive. So kind of a risk off sentiment in the market today. But if we look at it on the weekly, you can see it's pretty much all red. And it was a red week other than, I guess, Google and Intuit. I didn't see the news on Intuit, but it had a 7, almost 8% day. That's pretty solid.

DAREN BLONSKI CFP®: One thing that we talk a lot about, or at least with our clients, is exchange-traded funds. And so exchange-traded funds are different than mutual funds, but they're generally lower cost. And generally, there's some other benefits to it.

DAREN BLONSKI CFP®: But when you look across the board at all the indexes, so these are the U. S. -based indexes, and they're all red. But the inverse indexes, which are basically betting that it's going down, were green this week. But when you start looking at into all the different...

DANO WEIR: Do you have two screens going? Because I've still got Apple up here.

DAREN BLONSKI CFP®: How about that? There we go.

DAREN BLONSKI CFP®: Let's go back then. So you can see this is the S&P 500 for today, or excuse me, for the week. And you can see that it was pretty right across the board, Apple being the one that got really pummeled this week.

DAREN BLONSKI CFP®: When we look at it on the daily, what I was saying, the one-day performance, you can see consumer defensive, industrials, utilities. Those all showing green on the screen were all our risk-on assets were pretty red, except for Intuit. That's what I was saying.

DAREN BLONSKI CFP®: When you look at exchange-traded funds, which is a way to buy different parts of the market, right, and to access different parts of the market. That's where I was saying, you can see all these different assets and how they're performing. So these are all the S and P sectors and how each sector was performing. This is the large indexes and how they perform.

DAREN BLONSKI CFP®: Here's all your international stocks that did all right. This, this is on your fixed income and how did all your bonds do? And then crypto, which, on a one day performance didn't have such a good day, but crypto has actually had a pretty good week. And you can see it's one of the shining stars. Crypto and Inverse ETFs is what won the day. And then gold, as we talked about earlier.

DANO WEIR: What in the world is an inverse ETF?

DAREN BLONSKI CFP®: So an inverse ETF, so you can buy, for example, the Qs, which is your tech stocks. And then you can also buy SQQ, which shorts all the tech stocks. And they've gotten very popular in recent years, but they can be very painful in portfolios. And then you can leverage them.

DAREN BLONSKI CFP®: Too you can even leverage up higher i'm not recommending you do that at all but people who feel pretty convicted about one way or the other can they feel convicted markets are headed down you can buy the inverse and if you feel really convicted you can leverage that what's interesting one of the reasons what is that what is what do you mean leverage i would tell me i don't know what that is to make it simple leverage is when you use a form of debt to buy more exposure to an asset class.

DANO WEIR: Wow.

DAREN BLONSKI CFP®: So that's like steroids, investing in steroids. That's how you blow portfolios up.

DANO WEIR: That's like taking money out on your house to bet on a sports team.

DAREN BLONSKI CFP®: Yeah, exactly. That's exactly a good analogy.

DANO WEIR: A sports team losing.

DAREN BLONSKI CFP®: Yeah. In this case, it depends. Yeah. You can bet on the market losing, or you can bet on it gaining, and you can use leverage to do it if you want it. What's interesting, though, is SOX. Which is SOXS right here, this is the very front end of the technology risk curve.

DAREN BLONSKI CFP®: And it was up and so was crypto. And if things happen as they've happened in the past, when you see the front end of the risk curve go up, your cryptos and your SOX, typically the rest of the market's going to follow. That's at least what we've seen the last few years.

DANO WEIR: And that would be a leading indicator or the tip of the risk curve. Is that what you're saying?

DAREN BLONSKI CFP®: That's right. So if the tip of your risk curve is going down, then that's telling you the market's probably going to follow. If the tip of your risk curve is going up, that's telling you that the market's probably going to follow up.

DAREN BLONSKI CFP®: And the fact that we had a red week, but crypto was up and SOX was up, then I go back to the S&P chart and I say, okay, well, what did the SPY do this week? Well, it came over and it just tested this support level. So right now it tested this area here. Because I know SOX is up, because cryptos were up, that's the risk curve.

DAREN BLONSKI CFP®: I think probabilities are higher that we keep going versus go down. Because if we're going to go down, then you'd see that bleeding in SOX, you'd see bleeding in crypto. That's telling you the sentiment. The SOX chart and then the crypto charts are very sensitive to sentiment.

DAREN BLONSKI CFP®: And they move first. And we saw that with this rally. Like we saw crypto move before the stock market did up.

DAREN BLONSKI CFP®: So you can see like the stock market started really moving up on March 7th.

DAREN BLONSKI CFP®: And Bitcoin started moving on the 9th, but it retraced and went to all-time highs. So if we look at SPY.

DAREN BLONSKI CFP®: So on the 9th, everything took off.

DAREN BLONSKI CFP®: Bitcoin started building its position on the 9th and it's gone higher. So it's the front end of that risk curve.

DAREN BLONSKI CFP®: So typically, Bitcoin will lead a little bit. Like on Sunday nights, for example, I look at Bitcoin and watch what the Bitcoin chart's doing and kind of gives me a sense of what's going to happen Monday when the market opens. Because it's that front end of risk sentiment. In this case, it didn't take off quite, took off at the same time.

DAREN BLONSKI CFP®: It's just gone higher. But historically, if you go back, it tends to go first. Let's see, like, look at here. Here's November 5th. Let's go back to November 5th on, yeah, you can see it's been actually really correlated tightly with the stock market. Because look at here on November 5th of 2024, market went up and then opened up. The next day much higher.

DAREN BLONSKI CFP®: So it's interesting. Over time, as I've been watching it, it tends to lead, but it's actually looking like it's correlating on time with it, but going higher. So given the fact that we broke out the all-time high in Bitcoin, we've tested the all-time high now and found support. I think that looks pretty positive.

DAREN BLONSKI CFP®: All right. Well, I think we're going to leave it there. We'll see how tariffs impact the markets. But right now, I don't think the market cares. So horrific.

DANO WEIR: We always try to give some perspective, too, at the end of the episode, Darren, for.

DANO WEIR: The average investor for the person with their 401k for the person who is retired what does this episode mean to to the average investor what does it mean that they should should they do anything should they call anyone should they chill you know what what what would you say that you would say to someone if you were sitting with a client after showing them this have an awesome weekend.

DAREN BLONSKI CFP®: Yeah, I mean legitimately like The market is basically telling you it doesn't really think what Trump is saying has any teeth in it. That's what I would say.

DANO WEIR: We thank you so much for checking out the episode. I hope that you and your family have a wonderful Memorial Day weekend. I hope you take some time on Memorial Day to reflect on what Memorial Day is all about. We appreciate you very much checking out On the Market, which is our weekly show. You can find it here on our YouTube Channel. Please subscribe if you've not already. It does help the show.

DANO WEIR: It helps the firm. We appreciate that. You can also find audio-only streams of the show on Apple Podcasts and Spotify. And you can learn more about Sonoma Wealth at SonomaWealth. Com. If you're a current client or perhaps a prospective client, SonomaWealth. Com is where you can learn all about us and our free wealth analysis. So thanks again for checking out On The Market, and we'll see you next week.

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