From Chief Investment Officer Tom Veale,
“An uptick in the Indexes looked pretty good at Friday’s close. However, reviewing where they were a year ago does give a different perspective. Were they “too high” back then? Are they “too low” now?
Advancing stocks outnumbered decliners by a healthy margin helping market breadth. New 52 week highs are still negligible compared to new lows. All in all, data was a better mix for those who are “long” the stock markets.
Best regards,
Tom Veale
The MRI components were mixed and barely changed from the previous week’s results. Two up, on unchanged and one down on the Friday close. Overall that kept the MRI unchanged for this week at 29 with a +1 Oscillator value. Only the Relative Valuation Index remains higher than we’d like to see.”
