New All-Time price highs on increased volume in the major stock market indexes continue to reward investors as a result of renewed hope in an upcoming tax cut for corporations & individuals. Friday, being the end of a performance measurement quarter, showed the expected increase in demand for shares in all types of industries as many portfolio managers/investors scrambled to have their own year-to-date gains catch up and assertively invested capital that was sitting “on the sidelines”.
Monday, being the first business day of a new month, will likely see more of the same as “first day of the month inflows” (deposits for 401k, pension, & IRA $) pour into the market for millions of working Americans. The negative technical aspects we had identified earlier in Sept. have diminished greatly and our indicators have been positively “in-gear” for over a week. Barring anything hostile developing over this weekend that would scare investors, the market should continue to respond well. If so, by mid-week our Current Market Outlook may change to a “green” light. Just to be clear; the demand for equities near the end of a quarter in an up year, and on the first day of a new month, can drive prices up temporarily. The real test will be to see if the demand continues into and through next week. Stay tuned.
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.
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