12:00 TUESDAY – Bi-Weekly Market Report #236 – 4/30/24
Updated: May 14
by Robert Holman | www.DefensiveAdvisor.com
STOCK MARKET RATING (THE BIG PICTURE) … 5 (1-4 bearish, 5 neutral, 6-9 bullish). The warning signs have caused me to change my perspective on the market, from bullish to cautious.
It appears as though the conflict between Israel and Iran can be worked out more peacefully than through war. Therefore, I have bought back into the positions that I was in before at a net profit after payment of capital gains taxes. It is hard for the average investor to make these move, but a professional that watches the markets daily can do this much easier.
"It appears the fundamentals that we trade with are leaning towards a little settling down in the Middle East," said Tim Snyder, economist at Matador Economics. Perceived de-escalation between Iran and Israel could remove another $5-10 a barrel in coming months, Goldman Sachs analysts said in a note.
Even as concerns about geopolitical tension in the Middle East eased, the Israel-Hamas conflict continues to rage with some of the heaviest shelling in weeks on Tuesday. Sources on Wednesday said Israel is preparing to evacuate Rafah ahead of a promised assault on the city.
U.S. business activity cooled in April to a four-month low, with S&P Global saying on Tuesday that its flash Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to 50.9 this month from 52.1 in March. -- from Reuters 4/24/24.
Amazon results will be released after the bell today.
MAY BE OF INTEREST: 3 Best Stocks to Buy Now, 4/30/2024, According to Top Analysts (msn.com) --- Do you agree or disagree?
PORTFOLIOS … After reading this report, if you are not sure what to do to take advantage of these conditions, you may go to my Secure Email to send me a messagel, 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.