Market Risk Report as of January 9, 2022

Tom Veale
January 9, 2022

From Chief Investment Officer Tom Veale,

“The SignalPoint Market Risk Indicator’s data pipeline sprung a leak last week giving us a fit. However, the data resumed as per usual this week. This was the first such problem in 40 years of keeping the MRI’s database. Overall, we see a rise in market risk relative to the stock exchanges. All four MRI components rose in risk profile over the last two weeks bringing upward pressure to the MRI overall.

The last few weeks have seen a change from the “all ships rising” we’d seen through most of 2021. Money seems to be a bit more selective as to its direction of flow. This is true on a domestic as well as an international basis. Some differentiation seems to be occurring between traditional “value” oriented, dividend paying stocks and the “growth” stocks. Recent weeks have given “value” the edge.

Interest rates as seen in the secondary treasury markets has been improving while average yield from the Value Line 1700 stocks remains below its average. Any improvement is welcome by fixed income investors.

Best regards,
Tom Veale

This week’s MRI comes in showing 40 up a point from the previous week. It had ticked up a point last week, too. The MRI Oscillator is showing +7 indicating significant upward risk pressure.”

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