Our Current Market Outlook continues as “Market in a Confirmed Uptrend” and our light has changed to “green” as a result of a significant reduction in the number of Distribution Days and continued all-time highs in good volume. The stock market continues to trade up on the expectation of tax reform and repatriation. Investors are seeing the Federal Reserve interest hikes as a sign of a strengthening economy and are discounting the possibility of a recession any time soon. As a result, financial stocks are heating up and growth stocks are breaking out. An interesting new theme has emerged due to the back-to-back hurricanes in the building supply, remodeling & clean-up sectors. Energy stocks have also shown recent renewed life as the 4th quarter begins.
As good as the current market environment has been, it is wise for investors to remain alert to any signs of sudden change in the markets character. A rash of new Distribution Days (professional selling) or a significant increase in the number of stocks falling to new 52-week lows on the NYSE would cause us to change our current market outlook back to yellow. But for now the sky is blue and our light is green. As they say in Britain, keep calm and carry on.
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.
©2017 Triumphant Portfolio Management, LLC.
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This information is not intended to be a substitute for specific individualized advice. The TPM strategies cannot assure a profit nor protect against loss. Inherent limitations and market conditions may affect the performance of portfolios in any given market environment. Past performance does not guarantee future results. Investors should consider the investment objectives, risks, charges, and expenses associated with any investment strategy.
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