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