12:00 TUESDAY – Bi-Weekly Market Report #230 – 2/13/24
by Robert Holman | www.DefensiveAdvisor.com
STOCK MARKET RATING (THE BIG PICTURE) … 6.5 (1-4 bearish, 5 neutral, 6-9 bullish).
We have entered a bullish phase after Fed Chairman Powell acknowledged a monetary policy shift is likely ahead, which may lead to multiple interest rate cuts in 2024.
We are also at a level in valuations where the market usually pauses or pulls back some, although such levels can persist for a year or more before the pullback happens.
At the current time, the market is proceeding cautiously ahead. While the market was looking for an interest rate cut in March, as I suspected and wrote about, the Fed’s target date for the first interest rate cut will not be that soon, and in essence, the Fed warned that interest rate cuts are likely to be quite some time thereafter.
Right now, all leading indexes are short-term bullish, but of course that can change at any minute. The tech sector remains strong, and financials are gaining strength.
MAY BE OF SOME INTEREST: I Was Planning on Taking My RMDs and Converting Them to a Roth, But Was Told I Can't. Is That True? (msn.com)
PORTFOLIOS … After reading this report, if you are not sure what to do to take advantage of these conditions, you may go to: www.defensiveadvisor.com/contact to send me a secure email, and I’ll reply with the information you need.
TO MY CLIENTS … THANK YOU FOR YOUR TRUST. We’ve had great success since we started this RIA in mid-2018 and have done better than the market since that period.
Learn from the Bible: Proverbs 15:22 MSG - Refuse good advice and watch your plans fail; take good counsel and watch them succeed.
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Opinions in this post are for general information only. They are not intended to provide specific advice to, or recommendations for, any individual without our complete knowledge of that individual’s total financial profile. No strategy assures success or protects against loss. Past performance does not guarantee future results.