The major stock market indexes failed to cross over key price resistance levels (50 day moving averages) and then staged negative price reversals today. As a result, our Current Market Outlook remains “Uptrend Under Pressure” with a “yellow” light. While the days action was disappointing for the bulls, there was a silver lining; the sell-off came in lower trading volume lessening the sting of the decline.
Recent technical action has been encouraging as Tuesday action marked a “follow-thru” day in the current rally attempt. However, our proprietary three stage, sell-signal discipline currently stands at stage two and reflects the elevated risk level currently facing the market.
While the markets uptrend is working to reestablish itself, investors should continue to build a watch list of stocks with improving relative performance lines and only make smaller than normal new purchases in growth stocks. It appears that last weeks rapid correction may try to pass as quickly as it came, but historically that rarely happens. Our disciplined market signal process will ultimately keep our clients on the right side of the major trend.
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.
©2018 Triumphant Portfolio Management, LLC.
The Latest
BLOG POST: Our Current Market Outlook is “Uptrend Under Pressure” and our light is “yellow.“
Where Are Woodward and Bernstein When We Need Them? This article was written by Newt
A poem about a modern day Pig in a Poke, being “woke” and going broke.
Triumphant Truth
You’re not here by accident. God loves you. He wants you to have a personal relationship with Him through Jesus, His Son. Triumphant strives to honor the Lord and bear witness to His love and mercy by serving our clients with disciplined, proactive wealth management.
14803 Forest Rd.
#1147
Forest, VA 24551
Request a Triumphant newsletter to receive updates on the markets and Christ-centered investing.
Send mail to:
14803 Forest Rd. # 1147
Forest, VA 24551
Request a Triumphant Newsletter to receive updates on the markets and Christ-centered investing.
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.
Advisory Services Through Sowell Management, a Registered Investment Advisor | Privacy & Disclosures | © 2024 Triumphant Portfolio Management, LLC
