Message from Jon
This past week, we have seen what appears to be, in our opinion, a slowing and possibly even a bottoming in the indexes off of last week's declines. This may or may not be temporary since investors seem to be holding their breaths to see where earnings season this quarter leads. Some experts seem to be calling for slightly lower than 20% this season, but the growing concern is where the forecasts are going to be.1
We have seen a decline in the market sentiment measurements we normally watch such as Stormguard and D/W.2,3 This was expected with the spike in volatility and sell-off over these past two weeks. 4 We will be watching closely where this leads, as you might imagine, and are willing to re-align portfolios accordingly.
Till we speak again, enjoy the fall weather!