Our Current Market Outlook has been upgraded to “Uptrend Under Pressure” with a yellow light as of 10am on 10/10/23 (SPX 4,353.71). Our “Core Four” (see top of page) now has 2 yellow and 2 red lights. A new rally in growth stocks and the general stock market indexes is attempting to take hold. The recent rise in the US $ and interest rates have been derailing the tech trade.
Climbing interest rates are a growing threat – watch the 10-year US T-note yield. The economy still faces a difficult environment due to a determined Fed and seasonal weakness.
Remember that the 3rd quarter earnings season begins this week. Much will be able to be discerned about the condition of the economy by All Saints Day.
Finally, our hearts are deeply grieved by the heinous attacks on Israel. We are praying for the families that have lost loved ones and are asking the Lord Himself to bring about swift justice upon those that are responsible.
“As one whom his mother comforts, so I will comfort you; And you will be comforted in Jerusalem.” “Never take your own revenge, beloved, but leave room for the wrath of God, for it is written, “Vengeance is Mine, I will repay,” says the Lord. – Isaiah 66:13 & Romans 12:19 NASB 1995
Game plan: The bulls are pressing their case and the immediate bounce is here. Closely monitor and measure the current bounce for technical staying power that may heal the markets recent vulnerable position. Pray for Israel.
Note: You can learn more about The Triumphant Core Four risk management system by clicking here.
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. ©2023 Triumphant Portfolio Management, LLC.
Where Are Woodward and Bernstein When We Need Them? This article was written by Newt