From Chief Investment Officer Tom Veale,
Stock Market Indexes sagged yet again in the last week. The good news is that helps to scrub some market risk from our Indicator. Like a lot of efforts to clean up messy things, this market has required some elbow grease to get the job done.
In the future we will probably look back on this September a just an early visit to a Halloween haunted house. A friend wrote me with possible new lyrics to the Billy Joel song, “We didn’t start the Fire.” His suggestion was,
“Rate Hikes, Inflation, Ukraine Invasion, Consumer Spending, Excessive Lending…..”
Now I have that song stuck in my head!
As of today, I’m starting the first day of my 75th year. (sort of like this being the 21st Century) I continue to be entertained by the market place and am quite happy that SignalPoint’s process of investment inventory management continues to track the twists and turns we see in the economy.
This week’s MRI value shows 29, down one point from recent weeks. The MRI Oscillator shows minus 2 indicating slight further downward risk pressure.