Sigma Signals

Week of May 13, 2024

On April 19, the Standard & Poor’s 500 stock index hit a monthly low of $4,967. As of May 10, it sits at $5,223, a gain of 5%.  What changed in three weeks to precipitate this rather heady, short-term advance?  Nothing.  Purely a psychological shift, a normal factor in free functioning capital markets.  Hence, no inferences to draw which highlights the need for a consistent, long term investment strategy.  Not unexpectedly, our Signals remained unchanged.

Bob Bilkie, CFA