From Chief Investment Officer Tom Veale,
That feeling in my stomach still hasn’t gone away on this anniversary. We’re blessed that things didn’t get any worse than they did after that day. I still remember.
The SignalPoint Market Risk Indicator (MRI) scanned Wall Street’s data and finds no serious illness in how stocks are behaving. Stock valuations remain high relative to the risk free rate of return on cash. But, beyond that the rest of the market looks healthy with both Speculation and Divergence near their median values and nearly no IPO/New Issues activity showing.
Nervousness about the Federal Reserve Bank’s next move will be resolved soon. Maybe then market pundits can find something else about which to worry. In the meantime we see the MRI dropping slightly but still above its median value.
Best regards,
Tom Veale
The MRI clocks in at 30 this week, down a point from a week ago. Risk pressure as we measure it with the MRI Oscillator is minus 1 (slight downward risk pressure). Two components are neutral, one is proactive and one is cautious.
