Today the markets gave back very little of yesterday’s strong gain. Volume was light, which is exactly what growth investors want to see on a down day. Distribution in the market (selling by professionals) remains at a tolerable level.
On Wednesday, the Federal Reserve Board raised interest rates by 0.25%, as was expected. Currently, the market is willing to accept a few interest rate hikes in 2017 without going into a meltdown mode.
With the end of the quarter fast approaching, portfolio managers are looking for areas to deploy capital quickly. Risks to the downside do exist but lack a catalyst as this point. Keep watching for up days in brisk volume, and down days in tepid volume for a sign that the market is still healthy.
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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