From Chief Investment Officer Tom Veale,
“August proved to be a fairly generous month for equity investors overall, as has 2021 year to date. As our Market Risk Indicator shows, the spike in risk seen earlier this year has been moderating through the Summer months. As of this last Friday the S&P 500 Index is up over 21% for 2021. Most domestic indexes are also up nicely. The surge we saw in New Issues has also quieted.

Heading into September as we review our Portfolio Strategies we see ample cash liquidity and healthy profits captured so far for 2021.
Best regards,
Tom Veale
Our Market Risk Indicator is again unchanged this week at 37 and the MRI Oscillator is zero (steady risk pressure). The Relative Valuation Index is coming down toward its neutral range but is still showing rather high valuations. Speculation and Divergence Indexes are both neutral right now and the New Issues Index is still above its neutral territory.”