12:00 TUESDAY – Weekly Stock Market Report #220–8/29/23
by Robert Holman | www.DefensiveAdvisor.com
STOCK MARKET RATING (THE BIG PICTURE) … 5.0 (1-4 bearish, 5 neutral, 6-9 bullish). No change – seems like up trends are being mostly offset by down trends, with modest gains over the cycle. Have patience. Uncertainty surrounding the severity and timing of a possible recession is leading to caution on the part of many investors.
After a series of up days, the DJIA experienced a series of down days (11 of 17) before resuming a rally that appears to be in its third day. An uptrend has resulted from the higher highs and higher lows during this oscillation process. The S&P 500 and the NASDAQ are trending better than the DJIA.
Patience in buying and selling is being rewarded.
PORTFOLIOS… After reading this report, if you are unsure how to position your portfolio to take advantage of these conditions, call me to discuss your circumstances. If you would like, I’ll do a complimentary portfolio evaluation, and I’ll explain what ought to be done to improve your situation.
TO MY CLIENTS … THANK YOU FOR YOUR TRUST. We’ve had great success since we started this RIA in mid-2018 and are doing better than the market return since that time period.
Learn from the Bible: Proverbs 15:22. CEV - Without good advice everything goes wrong — it takes careful planning for things to go right. MSG - Refuse good advice and watch your plans fail; take good counsel and watch them succeed.
Published every Tuesday at 12:00 noon. For more information on my investment and planning services, or to sign-up for this weekly e-Newsletter, visit: www.defensiveadvisor.com/services OR www.defensiveadvisor.com/contact
Opinions in this post are for general information only and are not intended to provide specific advice to, or recommendations for any individual, without our complete knowledge of that individual’s total financial profile. No strategy assures success or protects against loss. Past performance does not guarantee future results.
Comments