Note: The US investment markets, and my office, will close at 1PM, Thursday, December 31st, for the obvious reason. Normal operations resume after the New Year on Monday, January 4th.
As for the stock market specifically: The major market averages had a week with little movement, and mixed results. I don’t remember any major movements during any of the days last week.
Given the holiday week, let’s keep it short.
The bullish percent indicators also had a mixed week. Two of them were down a fair amount, while one went up a decent amount. Overall, the weight of the evidence requires us to pursue WEALTH ACCUMULATION for clients.
Remember, Xs mean OFFENSE or wealth accumulation, while Os mean DEFENSE, or wealth preservation.
Below is where our indicators stand as of December 24, 2020 (Courtesy Dorsey, Wright, and Associates).
May you have a very happy and prosperous New Year! As always, call me with questions or concerns.