Week of October 16, 2023
The troubled Middle East that seems always a boiling cauldron just had another log thrown on the fire. Israel is amassing forces to drive Hamas out of Gaza following the Hamas led massacre in Israel a week ago Saturday. Capital markets were expecting a wave of selling pressure that Monday in response to the heightened geo-political tensions but, in fact, markets defied the experts and actually rose (once again highlighting the futility of trying to time markets). Our Signals remain unchanged.
Bob Bilkie, CFA