Our Current Market Outlook has been upgraded to “Uptrend Under Pressure” with a “yellow” light. Two of our Core Four indicators have improved to green, while one is yellow, and another is red. This combination creates a slightly positive, yet cautionary outlook.
The correction that started almost a month ago may have run its course. If so, it proved to be the harsh shake-out we were expecting. On the other hand, if the markets do not bolt further ahead quickly and in significantly higher volume, a second wave of selling may immediately develop and push our signal back to red. The bulls must make their stand right now or be mauled by the bears.
The battle in Washington over additional stimulus is a potential major catalyst, in either direction. The odds favor a deal, and a positive stock market reaction, but we have found ourselves in this position before with Rep. Pelosi trying to call the shots and it has not always ended well. (Read between the lines… Sept/Oct 2008 anyone?)
What can an investor do today? Keep calm and begin transitioning from defense to offense with a part of their investible capital. Keep an exit strategy close by and hope for positive news catalysts that will breed investor confidence and clearly confirm this fledgling uptrend. Otherwise, watch out below!
Have a Triumphant day! ®
The information in this article is based on data obtained from recognized services and sources and is believed to be reliable. Any opinions, projections or recommendations in this report are subject to change without notice and are not intended as individual investment advice. Not to be used as legal or tax advice. ©2020 Triumphant Portfolio Management, LLC.
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