Congrats on 22,000! Record highs continue to be reached by the popular indexes and give President Trump something positive to Tweet about. Whether or not we feel he deserves credit for the markets advance, optimism abounds unlike what we’ve seen in several years. Even though there are several issues facing the markets right now (N.Korea, Congressional stall, higher interest rates, etc.), it continues to climb a “wall of worry”. As we said this June and last year as well, it’s T.I.N.A’s fault. (See 06/19/17 bulletin below)
Given the stock markets current risk/reward ratio (at best “even” measured by our research) we continue to remain cautiously optimistic and are sticking with our “yellow” light. A major Sell signal was narrowly avoided a month ago (July 12th to be exact) and as expected the markets moved to new highs. Unfortunately, the recent move up has not been as broad based as hoped for, nor has it featured powerful up volume, except in a few influential individual stocks. Dow industrial index stocks I might add.
As of tonight internal conditions are beginning to weaken a little bit once again, and there is a possibility of a new technical Sell signal being triggered as early as three days from now. In summary: the trend is still up but the light is yellow. Said another way, the music is still playing, but the wise have begun looking for the chair nearest to them. Stay tuned, stay alert, feel free to call us & 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.
Where Are Woodward and Bernstein When We Need Them? This article was written by Newt