The Makos Academics Arts and Athletics Club Annual Car Show is set to take place on Feb. 22 as an integral part of the 33rd Annual Orange Beach Seafood Festival at The Wharf in Orange Beach. This event offers a wonderful opportunity for car enthusiasts and the community to come together and enjoy a day filled with excitement and fun.

Uniting the Car Community and Supporting MAAAC

Early Registration and Fee Increase

Registration for the car show is now open, with early registration priced at $75 per car. However, after February 14, the registration fee will increase to $100 per car. This provides an incentive for car owners to register early and secure their spot in the show.The variety of prize categories in the show is truly impressive. From classics to jeeps, trucks to Corvettes, exotics to hot rods, there is something for every car lover. This year, MAAAC has introduced the Jimmy G. Grand Prize Trophy, named in honor of local car collector Jimmy G. Harrell.

Jimmy G. Harrell - A Passionate Car Collector

Harrell has been an integral part of the Orange Beach car community. After retiring, he started collecting cars and found great joy in working with them and sharing his interest with fellow car enthusiasts. He believes that car guys are honest and interesting people.Harrell's passion for giving back to the community is evident. He sees the car show as a great opportunity to combine his love for cars with supporting MAAAC. His contribution is highly valued by the event organizers.

MAAAC's Impact and the Importance of the Festival

Since its inception in 2019, MAAAC has raised and distributed more than $1.5 million to support Orange Beach students in their academic, artistic, and athletic programs. The Orange Beach Seafood Festival is one of the community's most beloved traditions, bringing people together and celebrating the unique spirit of the area.This festival not only brings the community together but also helps MAAAC continue their vital work. It is a time to enjoy delicious food, spend time with family, and support a great cause.For more information, visit obmaaac.org or email melainebennett@obmaac.org. Come and be a part of this amazing event!

The stock market landscape on early Wednesday presented a mixed picture. Dow Jones futures showed little change, while S&P 500 futures and Nasdaq futures experienced a slight rise. The highly anticipated CPI inflation report was set to be released early in the day.

Unraveling the Stock Market's Intricacies

Stock Market Rally and Its Implications

During Tuesday's trading session, the stock market rally was narrowly mixed. The Dow Jones Industrial Average fell by 0.35%, the S&P 500 index gave up 0.4%, and the Nasdaq composite slipped 0.25%. The small-cap Russell 2000 also retreated by 0.4%. The Dow Jones and Russell 2000 are currently testing their 21-day lines. The Nasdaq, although no longer extended, remains above all its moving averages. The Invesco S&P 500 Equal Weight ETF (RSP) fell 0.6%, below the 21-day line, and has been in a downward trend for four consecutive sessions. The First Trust Nasdaq 100 Equal Weighted Index ETF (QQEW) lost 0.8%. U.S. crude oil prices edged up 0.3% to $68.59 per barrel. The 10-year Treasury yield rose two basis points to 4.22%, continuing Monday's bounce but still down sharply from mid-November.

Tech Stocks and Their Volatility

Tech and growth stocks faced another challenging day. Nvidia (NVDA) and big AI chip peers Taiwan Semiconductor (TSM) and Broadcom stock broke key levels. Taiwan Semi's sales and Broadcom's (AVGO) earnings announcements likely contributed to this. Palantir Technologies (PLTR) and AppLovin (APP), among the hottest stocks, also fell. However, Nvidia and Palantir showed signs of bouncing early Wednesday as many, but not all, growth stocks rose. Nvidia stock fell 2.7% to 135.07, closing below the 50-day for the first time since September 20. It's possible that Nvidia stock will form a new, shallow base next to the prior consolidation. But the AI giant is not far from flashing sell signals. Nvidia rose 1% early Wednesday, still below the 50-day line. Taiwan Semiconductor stock fell 3.6% to 191.94, just holding the 50-day but below the 10-week. Shares could be working on a handle to a shallow cup base. Broadcom stock retreated 4% to 171.81, back below the 50-day line. AVGO stock has a 185.05 buy point from a double-bottom base next to another consolidation. Investors could use Monday's high of 180.79 as an early entry. Broadcom reports fiscal Q4 earnings on Thursday night. TSM and Broadcom edged higher early Wednesday.

Blue-Chip Stocks and Their Movements

Google-parent Alphabet (GOOGL) broke out, rising 5.6% to 185.17 and clearing a 182.49 cup-with-handle buy point. The relative strength line, which tracks a stock's performance vs. the S&P 500 index, topped a short-term high but is still well off highs. Shares ran Tuesday as Google touted its new Willow quantum computing chip. Google stock edged higher early Wednesday, perhaps in reaction to General Motors (GM) scrapping Cruise robotaxi plans. Tesla (TSLA) continued to run, rising 2.9% to 400.99 and nearing the November 2021 record intraday high of 414.50. Morgan Stanley's Adam Jonas became the latest Wall Street analyst to hike his TSLA stock price target. Tesla EV registrations also powered higher again in China, helping to offset weakness in the U.S. and Europe. Shares rose slightly early Wednesday, with Tesla, or at least TSLA, another possible beneficiary from GM Cruise's robotaxi exit.

Other Market Indicators and ETFs

Dow Jones futures were even vs. fair value. S&P 500 futures climbed 0.1% and Nasdaq 100 futures rose 0.2%. The 10-year Treasury yield climbed to 4.25%, around its 21-day line. Crude oil rose more than 1%. Among growth ETFs, the Innovator IBD 50 ETF (FFTY) tumbled 2.1%. The iShares Expanded Tech-Software Sector ETF (IGV) fell 1.5%, with Palantir stock and AppLovin now significant holdings. The VanEck Vectors Semiconductor ETF (SMH) slumped 2.5%. Nvidia stock is the dominant SMH member. ARK Innovation ETF (ARKK) fell 1.2% and ARK Genomics ETF (ARKG) climbed 0.4%. Tesla stock is a major weight across Ark Invest's ETFs. Cathie Wood also built up a big Nvidia stake. SPDR S&P Metals & Mining ETF (XME) retreated 1.4%. U.S. Global Jets ETF (JETS) ascended 0.9%. SPDR S&P Homebuilders ETF (XHB) shed 2%. The Energy Select SPDR ETF (XLE) slipped 0.6% and the Health Care Select Sector SPDR Fund (XLV) declined 0.4%. The Industrial Select Sector SPDR Fund (XLI) dipped 0.2%. The Financial Select SPDR ETF (XLF) lost a fraction.

What to Do in the Current Market

The stock market rally remains near record highs. However, with a few exceptions like Tesla, growth names are struggling in the very short term, including Nvidia, Palantir, and AppLovin. It's a time to be cautious. If you do make new buys, be ready to exit quickly. But investors should still be heavily invested. Keep looking for setups and potential entries, especially if the market pauses for a time. If the selling in hot stocks continues, or broadens out to the wider market, be ready to curb exposure. Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.