Market Risk Report as of December 4, 2023

From Chief Investment Officer Tom Veale,

The 50th State

Pineapple, Coffee abound.

Jet lag is still tough!

A bit of R&R did me some good and the stock market seemed to agree. Advances outnumbered declines for the last two weeks and 52 Week New Highs outnumbered New Lows by a nice margin. All this money flow back into stocks has used up some of the markets’ potential for appreciation, however. While the SignalPoint Market Risk Indicator rose a point each week, it’s still just returned to its Median value.

November ended on a high note for stocks in general and for SignalPoint’s Model Portfolios as well. While not all business sectors did well (Utilities, Staples and Healthcare) there were solid moves upward for others (Real Estate, Financials and Info Tech). Large, Mid and Small Value indexes outperformed their growth counterparts.

We could call this a Thanksgiving Rally or an early Holiday Bonus. With a month to go in 2023 investors have had a reasonably good year so far.

Best regards,

Tom Veale

The SignalPoint Market Risk Indicator has risen one point each of the last two weeks. It comes in at 26 this week with an MRI Oscillator of +4 indicating further upward risk pressure. Our Divergence Index is showing year end stress with lots of new highs and lows pressuring it. It’s the only component currently showing caution.

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