From Chief Investment Officer Tom Veale,
Another week of relatively little change in the markets has just passed. Market breadth looked better even while new 52 week highs and lows remained bearishly high. Investors are still awaiting a change to better weather.
The SignalPoint Process has guided the various components of our investment strategies with both buying and modest profit taking occurring. This is taking place even as current events distract most investors from their tasks. Areas of concern remain with interest rates and inflation rising, stock relative valuations high and indigestion caused by a glut of new issues in too short a time frame. Given all the current events it is interesting to see at least a small rebound in the S&P500 from its lows a month ago.
Best regards,
Tom Veale
The Market Risk Indicator rose yet another point to 40 this week with the MRI Oscillator still showing rising risk pressure of +8. Three components remain above their neutral zones while one is neutral.
