From Chief Investment Officer Tom Veale,
““Big Tech” seemed to be the source of some of last week’s index behavior. The NASDAQ Composite, S&P 500 and the Dow 30 all had modest declines while the Russell 2000 rose slightly. So, smaller cap stocks continued their gains as money flowed away from the mega-caps.
The SignalPoint Market Risk Indicator (MRI) stayed steady with internal components rising and falling in equal numbers in their own risk ranges. Still higher than we’d like to see, market risk has moderated considerably with the latest round of earnings reports.