As for the stock market specifically:
The markets once again rose last week, and it appears that I was much smarter in November than I was in the 3 preceding months as the markets rewarded investors.
There was no market movement over the shortened Thanksgiving that warrants any comment.
The risk assessing bullish percent tools made progress once again. We still have room for improvement before we get to the red zone for investments. I continue to recommend WEALTH ACCUMULATION.
Remember, Xs means OFFENSE or wealth accumulation, while Os means DEFENSE or wealth preservation.
Below is where our indicators stand as of November 24, 2023 (Courtesy Dorsey, Wright, and Associates).
On a general note:
The National Association of Realtors had the only piece of economic data to hit my inbox. The trade group announced October existing home sales came in at a seasonally adjusted, annualized rate of 3.79 million homes. This is the lowest monthly sales rate since 2010, and a 14.6% drop from October 2022. This also was a 4.1% decrease from September 2022. The median sales price came in at $391,800, which is a 3.4% increase when compared to October 2022. Something not mentioned in the report is that interest rates have come down during much of November.
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