From Chief Investment Officer Tom Veale,
“Another week added to the market history and, in this case, another week of modest decline in market risk. Two of our Market Risk Indicator components rose slightly in risk profile while two declined. Of note this week is our consensus component, the Divergence Index, dropped to its low risk end. This would indicate investors in general are not confused about the current and near term market conditions. Our New Issues Activity Index remains statistically high but has started to wind down in recent weeks and our Speculation Index remains market neutral.