From Chief Investment Officer Tom Veale,
August closed out with the S&P 500 Index down over 4%. The good news is our various portfolio strategies did better than that for the month. Still, it’s never pleasant to see a minus sign in front of monthly, quarterly or annual results.
Along with the decline in the indexes we’re seeing our Market Risk Indicator changing direction for the better. Our Speculation and Divergence indexes both declined last week while the other two components remained essentially unchanged. The MRI remains in its neutral territory where we’ve seen modest growth in the past.
The MRI comes in unchanged this week at 31. The MRI Oscillator is back to zero indicating no particular pressure either up or down in risk.