Good Tuesday afternoon, everybody. You know, today was almost a good day for the market. I say almost because, although stocks finished the day with a gain, once again the market just couldn't hold on to what was only moderate progress. The S&P 500's close was below the high. Thing is, there's nothing technically or fundamentally surprising about the fact that stocks continue to hit a headwind here. They should be hitting a headwind here. The question is, how long are the bulls going to keep trying (unsuccessfully) to plow into a headwind? We'll look at the whole thing in a moment. Let's get the most important business out of the way first... last quarter's official earnings report from featured stock Sack Lunch Productions (SAKL). While I'm a numbers guy, there's no denying a picture says so much more, so much faster. So, rather than tell you how well Sack Lunch Productions did last quarter and year-to-date, let me just show you the chart James Brumley made to illustrate the trend. Now, take another, closer look at the chart, because it would be easy to make a mistake. Don't confuse the recently completed Q2 of 2016 with Q3 of 2016. Make sure you're comparing this year's Q2 to last year's Q2. Yes, revenue was up 278%. All the other key numbers were up similarly, on a year-over-year basis. The specifics: The top line of $5.6 million was up 278%, and the deferred revenue tally of $2.0 million was 11% better than the company's deferred revenue of $1.8 million at the same point in the prior year. That's impressive, but what's really got me stoked is what the third quarter numbers could look like when we're talking about then three months from now. See, the third quarter (back to school, beginning of fall, end of summer, etc.) is Sack Lunch Productions' busy seasons. Those numbers are going to be colossal. They certainly were last year, and that was when the company was hosting far fewer events. I wouldn't be shocked if the top line was at or near eight figures for Q3. If that doesn't excite you, I don't know what will. SAKL continues to be one of our most compelling ideas. This whole concept of people being more interested in experiences rather than owning physical goods is not only real, but just in its infancy. Nobody cares about foreign cars and brand-name clothing like they used to. Now doing stuff is the prize. OK, movin' on. The Under the Radar Movers team has been taking care of most of our bigger-picture economic news of late, so we've not been doing as much if that here - no need to create overlapping commentary. James Brumley and his team weren't going to be able to get to today's big real estate news though, so he made the chart and sent it on over to me for us to use here. I'm glad he did too. It's pretty amazing. It's a chart of the new-home sales pace through July. As of last month, new homes were being sold at a breakneck pace of 654,000 units per year. A fluke? Perhaps the sheer size of the advance was an anomaly, but no - the continued rise in new home sales isn't an accident. This has been one of the economy's strong points, even if few want to admit it. In fact, it seems like a lot of observers have been trying to pretend it can't last... trying to talk it down. Stocks and industries have a funny way of climbing that wall of worry though. I think we have to take this chart at face value. Tomorrow's existing-home sales report will round out the data derived from the new-home sales report. Last but certainly not least, the broad market tried to break out today, but once again just couldn't get anything going in a meaningful way. Still, one lackluster day doesn't mean the market has tipped over yet. The bulls are refusing to give up ground. We have to respect that. Take a look. The line in the sand for the S&P 500 remains at 2176. As long as it holds up, there's no point in talking about downside targets. There is a point, however, in making sure we're all crystal clear about differentiating between the near-term and the long-term trend. The pullback we've been expecting? That's a short-term trend - a correction - if we get it. The market could probably use a good bearish jolt, but between the calendar, it being an election year, and the bulls' sheer persistence, we're not expecting a big 20% setback even though stocks are arguably overvalued by more than 20%. Regardless of what happens in the short-term, the long-term trend has been and remains bullish, which will likely bring a quick end to any selloff. We make a point of explaining this difference to set the stage for something John Monroe over at the Elite Opportunity Pro newsletter wrote to those subscribers today about this incredible resilience. He notes: "Honestly, we haven't seen this kind of melt-up in stocks since way back in 2000, just before the markets imploded. However, even back in 2000 traders had a very tough time pegging a top. As a matter of fact, it wasn't until after short sellers had been annihilated before the markets finally decided to rollover. Here's an isolated chart of the NASDAQ Composite back in 2000 showing you the melt-up and the ensuing meltdown that took place once the index thrusted higher back in February and March of 2000, just before it imploded. That's precisely what we need to be careful of here, as the markets always have a funny way of defying gravity before they inevitably decide to break down." One of the key differences between now and then is the simple fact that we had already started a recession at the time, and nobody wanted to see it. Now, many believe we've already started a recession, though earnings are actually at least stabilizing (and there's even a small chance they'll start to grow again later this year). The underlying risk is the same though. That is, traders can become so oblivious to reality and anything close to a reasonable valuation that they'll try to do anything to convince themselves they were right to be bullish. Don't think it can't happen again. Again though, the outcome in 2000 was a recession. I think any post-meltup response here is actually going to be a bullish one... though few will want to believe it at the time [a perfect contrarian buy signal, by the way]. The trick is timing. Justified or not, a rally is a rally, and you don't want to miss out. On the flipside, a rollover is a rollover, and you don't want to simply stand by and be rolled over. Both moves will be great trading opportunities, even for long-term investors. We don't have room or a means to give you those specific trading instructions here in the free end-of-day newsletter you're reading now, but if you want those specifics, John's going to have those trades ready to roll at a moment's notice for Elite Opportunity Pro subscribers. Just one of those trades could more than cover your subscription price.