Week of October 23, 2023
With the presence of myriad uncertainties led by the Israeli/Hamas war and the inability of Republicans in the House of Representatives to choose a Speaker, we would have expected even more equity market weakness this past week. We can only conjecture that market participants, conditioned to resist emotional selling, may have limited the downside. Nonetheless, we would still be inclined to anticipate weakness and may deploy capital by rebalancing portfolios should opportunities present. Our Signals remain unchanged.
Bob Bilkie, CFA