TWELVE o'clock TUESDAY – Stock Market Report

by Robert Holman | The DefensiveAdvisor.com | June 30, 2020

Bullish … rating of 6 (0 - 4 is bearish, 5 is neutral, 6 - 10 is bullish). I’m a little less bullish than in recent weeks; in fact, I’m almost neutral between bullish and bearish.

According to Bloomberg News this weekend, the state of Texas has become the new epicenter of the coronavirus. However, the most recent data showed the number of new cases declining from a peak of 5,996 on June 25 to 5,707 up to 5,747 down to 5,357 and finally to 4,283 reported for June 29. The market is liking that news and is rallying a bit. The Governor’s closing of bars and cutback in restaurant capacity to 50% is also contributing to these results.

Arizona, California and Florida have shown recent declines.

Our stocks are recovering from the sell-off very well. Our portfolios values are rising back toward their peak values. I expect that as the market continues to fight its way upward, that our portfolios will do the same.

If you have not yet become a client, please allow me the opportunity to serve you. For those of you who are already clients, thank you for your trust.

To see prior editions of this blog letter, go to http://www.defensiveadvisor.com

Opinions voiced in this post are for general information only and are not intended to provide specific advice or recommendations for any individual, without complete knowledge of that individual’s total financial profile. No strategy assures success or protects against loss. Past performance does not guarantee future results

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