From Chief Investment Officer Tom Veale,
Last week’s market activity helped close July on a positive note. Our Signal 10 Strategy with ETF assets representing the major business sectors rose nicely. While not back to previous highs recorded last year it might indicate the markets have found a near term bottom.

The SignalPoint Market Risk Indicator (MRI) displays the late July rally with slightly different light. Three of the four MRI components rose in their own risk ranges. This had the effect of lifting the MRI back to its Median level.

In just three weeks we’ve seen the 13 Week Treasury Coupon rate rise from under 2%/yr to over 2.5%/yr. The rate started 2022 at 0.076% so has risen dramatically in just 8 months. While not great news for borrowers it should offer some relief for savers.
Best regards,
Tom Veale
The MRI comes in one point up from a week ago at 26. The MRI Oscillator rose to +5 indicating significant upward risk pressure with three of the four MRI components rising in risk.