Message from Jon
This past week kicked off earnings season, and it was met with a yawn. Financials were decent, but healthcare was hit hard.2,3 With it being a short week heading into a holiday weekend, the markets were pretty much jogging in place, in our opinion.
We saw a tick downward on Stormguard's reading, which was interesting but not actionable.
Dorsey/Wright is indicating that 40% of the sectors they follow are in an overbought state (as of 4/18/19), which would seem to suggest the possibility of increasing heat building in the equity markets. I guess we will have to wait and see if a correcting, sideways or increasing market climate awaits.
We are pleased to announce a new intern beginning with us in the summer. Dominik Sochurek is graduating from Purdue, after studying Financial Engineering.
Devin McCardle, our recent intern, has decided to join the US Air Force, and we couldn't be more proud.
Till we speak again, enjoy the onset of warmer weather!
A Mild Week for the Market
WEEKLY UPDATE - APRIL 22, 2019
The Week on Wall Street
A short and relatively placid trading week wrapped up Thursday, with the major indices turning in mixed performances. The S&P 500 retreated 0.08%, the Nasdaq Composite advanced 0.17%, and the Dow Jones Industrial Average gained 0.56%. The MSCI EAFE index, tracking foreign stocks in developed countries, added 0.65%.