Stock Market At Major Inflection Point
In our August 7, 2023 Market Update, Stock Market Weakness Likely, I mentioned the market was at the top of its uptrending channel and was likely to correct to the lower half of that channel. Here we are two months later and the S&P 500 is sitting on the trendline that defines the lower end of that channel.
The index sitting on this trendline could be a good entry point or it could be the beginning of a major correction if the index falls decisively below that line.
I believe we are about to see a strong move in one direction or the other. If it is down, watch out below.
If you are worried about risk in your investment accounts, reply to this email. We offer a free one-hour consultation.
Client Account Update
Client accounts are overallocated in Energy and Commodity stocks. Those long positions have been heavily hedged with Index Short Funds. That allocation has worked well over the last couple of months even though the S&P 500 is down over 6% from its peak.
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We want clients who are a good mutual fit. To find out, we offer a no-pressure complimentary consultation. If we can help you and you want to work with us, that’s great. But if you don’t, we will give you free asset allocation direction on your retirement accounts, at no charge and with no strings attached.
If you are interested, send us an email to set up your complimentary zoom meeting.
Craig Thompson, ChFC
Email: [email protected]
Phone: 619-709-0066
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.
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