Good morning.
An angel gives Joseph a charge, and in today's Gospel a Samaritan gives an innkeeper one. The words are close.
Monday of the Twenty-seventh Week in Ordinary Time
The Church also offers the optional memorials of St. Faustina Kowalska, Virgin, and Blessed Francis Xavier Seelos, Priest.
First reading: Paul to the Galatians, who are leaving the one who called them: "I wonder that you are so soon removed from him that called you into the grace of Christ, unto another gospel." And of his own aim: "For do I now persuade men, or God? Or do I seek to please men? If I yet pleased men, I should not be the servant of Christ." — Galatians 1:6, 10. The psalm response is The Lord will remember his covenant for ever.
Gospel: a lawyer asks Jesus what he must do to inherit eternal life, and then, to justify himself, "Who is my neighbour?" Jesus answers with a man who went down from Jerusalem to Jericho and fell among robbers. A priest passes by. So does a Levite. "But a certain Samaritan being on his journey, came near him; and seeing him, was moved with compassion. And going up to him, bound up his wounds, pouring in oil and wine: and setting him upon his own beast, brought him to an inn, and took care of him. And the next day he took out two pence, and gave to the host, and said: Take care of him; and whatsoever thou shalt spend over and above, I, at my return, will repay thee." — Luke 10:33-35
Jesus asks which of the three was the neighbour, and the lawyer answers: "He that shewed mercy to him." And Jesus said: "Go, and do thou in like manner." — Luke 10:36-37
In the Catena Aurea, Chrysostom says what the last line asks of us: "If you see any one oppressed, say not, Surely he is wicked; but be he Gentile or Jew and need help, dispute not, he has a claim to your assistance, into whatever evil he has fallen." Augustine: "he is our neighbor, to whomsoever we must show the duty of compassion if he need it."
The full readings are on USCCB.org.
bible.usccb.org/bible/readings/100526.cfm →
"Take care of him"
Luke gives the Samaritan's charge to the innkeeper in the Latin Vulgate as Curam illius habe, "Take care of him." Matthew gives the angel's charge to Joseph as Surge, et accipe puerum, et matrem ejus: "Arise, and take the child and his mother, and fly into Egypt." — Matthew 2:13. Both are told to receive someone who cannot look after himself and to keep them. And Matthew says what Joseph did: "Who arose, and took the child and his mother by night, and retired into Egypt." — Matthew 2:14. After Herod's death, in Egypt, the angel appears again: "Arise, and take the child and his mother, and go into the land of Israel." And again: "Who arose, and took the child and his mother, and came into the land of Israel." — Matthew 2:20-21
Ambrose, on the innkeeper, in the Catena Aurea: "Blessed then is that inn-keeper who is able to cure the wounds of another; blessed is he to whom Jesus says, Whatsoever you have spent more, when I come again I will repay you."
Pope Francis writes in Patris Corde that "To protect Jesus from Herod, Joseph dwelt as a foreigner in Egypt." Of the Child he writes: "He needed to be defended, protected, cared for and raised by Joseph." And in the same letter: "every poor, needy, suffering or dying person, every stranger, every prisoner, every infirm person is 'the child' whom Joseph continues to protect." (Patris Corde, §5) On welcoming, he says Joseph's attitude "encourages us to accept and welcome others as they are, without exception, and to show special concern for the weak." (§4)
The Gospel gives the Samaritan the mercy and gives the innkeeper the work. Joseph's part in Matthew is the innkeeper's. He is given someone to keep, and he keeps them, in Egypt and in Nazareth, with no recorded word.
Friday's close: SPY $769.65, +0.7% · Nasdaq 100 +1.0% · Russell 2000 +0.9% · tape BULL, regime choppy · new longs paused by the two-loss warning
The September jobs report came out Friday at 8:30 AM ET. The Bureau of Labor Statistics put payroll growth at +29,000 and the unemployment rate at 4.2%. It also revised July down from +21,000 to −10,000 and August from +162,000 to +133,000. Average hourly earnings rose 0.1%, to $37.81, and are up 3.0% over twelve months. The S&P 500 fund opened 0.9% above Thursday's close and ended the day up 0.7% at $769.65, which left it down 0.2% on the week.
Friday was a gap that faded. The Nasdaq 100 fund opened 1.2% higher at $751.31, touched $754.51, and closed at $749.49, up 1.0% and below its open. Nine of the eleven sector funds rose on the day, but only three, technology, energy and utilities, rose on the week. Healthcare was weakest at −2.7%.
The tape still reads bull, and it turns, with the system selling every long, only on a SPY close below $629.29. The two-loss warning is still on: no new long until SPY closes above $779.37, about 1.3% above Friday's close. Friday was not a distribution day, so our own count stays at 10 of the last 25 sessions for the S&P 500 fund and 5 for the Nasdaq 100 fund. The scanner's list holds thirty-three names at or near their 52-week pivots, and none triggered.
AMD closed at $633.75, 3.7% above its entry of $611.31. CrowdStrike (CRWD) closed at $270.05, 8.6% above its $248.69 average over 636 shares; the stops at $249 are my own call as Fund manager. The seven puts cost $18,426 and were worth $15,340. The idle-cash sleeve is in commodities (DBC) and short-term Treasuries (SHY).
What is ahead. The calendar this week is light. The Federal Reserve releases the minutes of its September 15-16 meeting on Wednesday, October 7. Neither AMD nor CrowdStrike reports earnings in the next 21 days. Just past the week, the September Consumer Price Index comes out Wednesday, October 14, the Producer Price Index the next day, and the Federal Open Market Committee meets October 27-28. The levels do not change: SPY above $779.37 lifts the warning, and SPY below $629.29 turns the tape.
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The week ahead, per the USCCB daily readings calendar for the United States:
St. Joseph, pray for us.
Holy Mary, Mother of God, pray for us.
In Christ,
Jonathan Simmons
Enoch Capital LLC
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