Three In A Row
Stocks advanced strongly this past week and have now been up for the past 3 weeks. This advance has brought stocks up to some very important resistance areas.
The NYSE Composite Index has reached previous lows and is sitting right under its long-term downtrend line. These areas will provide significant resistance for stocks going forward.
An interesting factor about the recent advance is that stocks continued to go up even though they were severely overbought. This type of market action can be a sign that a new trend “may” be developing.
How stocks behave over the next few weeks should provide valuable insight into the longer term health of the market.
Client Update
I have made minor changes to our client accounts this past week. However, we are still invested very conservatively.
Both Aggressive and Conservative accounts are mainly invested in Bond Funds, with about 30% in Cash.
We Can Help
“Don’t wait until you’re in a crisis to come up with a crisis plan.” – Phil McGraw
Craig Thompson, ChFC
Email: [email protected]
Phone: 619-709-0066
About Asset Solutions
Asset Solutions Advisory Services, Inc. is a Fee-Only Registered Investment Advisor specializing in helping the needs of retirees, those nearing retirement, and other investors with similar investment goals.
We are an “active” money manager that looks to generate steady long-term returns, while protecting clients from large losses during major market corrections.