Week of April 15, 2024
Domestic common stocks generally advanced in 2023. Some of the gains were realized by investors, meaning tax bills need to be paid by April 15. The funds to pay those taxes, to a degree, are generated by selling more stocks in the mid-April period and last week saw broad common stock price declines. Of course, Middle East tensions and a hot inflation report contributed. Any follow through past this week will merit monitoring. Our Signals remain unchanged.
Bob Bilkie, CFA