After an impressive post-election rally by the SP500 and the Dow Jones Industrial averages (thanks in large part to a massive move in bank stocks) our Current Market Outlook changed to a “Yellow light” this week and is now classified as “Uptrend Under Pressure”.
This signal tells growth investors that the current stock market environment has improved and suggests that investors could begin to carefully deploy capital back into the market. However, in spite of the strong snap-back rally by the popular averages, the market continues to show an elevated level of risk. The Nasdaq’s performance lagged this week and is suffering from serious rotation out of the “FANG” stocks.
Also, a significant number of recent declines in higher volume known as distribution are still present. When distribution (professional selling) piles up quickly in the span of several days or weeks, markets can signal a top may be nearing.
Keep an open mind, however, and be flexible. The market is still not as technically healthy as it can be, and if conditions were to improve for the better (ie; continued positive response to a Trump Presidency, Fed interest rate decision clarity, etc.) the market could quickly engage in a meaningful year-end rally.
Check back to this page often for future “current market outlook” updates.
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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.
©2016 Triumphant Portfolio Management, LLC.
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