Tuesday, January 30, 2024

Market Snapshot: Charts Update (video), But First, Some Key Stats

Dear Clients, please be sure and take these videos in when you can... In them we address what's churning underneath these celebrated "record highs" that the media seems so enamored with of late.

For example, here's a look at where the SP500, the SP500 Equal Weight (a truer look at the overall market), and the Russell 2000 indices presently sit vs the SP500s previous all-time high:

And, speaking of the SP500, here's a look at the performance by sector since that January 2022 high, note that 7 of the 11 remain in the red... I.e., this is what you'd call historically bad breadth... And while things can definitely improve on that front, what we're looking at right here is anything but the character of a healthy equity market:

Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust:

Attention Non-Client subscribers: Nothing in this video should be construed as investment advice. The examples expressed relate to portfolio management we perform on behalf of our clients, and, again, under no circumstances are they to be considered recommendations to the viewer.

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