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Perspectives

November 2019

Post 1 to 4 of 4

Don’t fear an overbought market this time of year

by Fortem Financial November 25, 2019

A number of tactical indicators remain overbought, but the historical data would say that’s actually a good thing. Overbought conditions in uptrends are often consistent with better than average future returns and positive hit rates, and their presence is a common feature in durable market advances. Seasonality can reinforce a trend, and the calendar is clearly a tailwind for performance the final 6 weeks of the year. Following several consecutive weeks of gains, the equity markets lost momen… View More

Markets at all times high despite all the trade and impeachment noise

by Fortem Financial November 19, 2019

Investors remain at the mercy of trade headlines which are light on substance. The major indices eked out slight gains last week despite contradictory statements on the progress of finalizing the Phase One agreement. The Dow Jones Industrial Average rose 1.17%, followed by the S&P 500® Index (+0.88%), the Nasdaq (+0.77%) and the Russell 2000® Index (-0.15%). Negotiations stalled this week as China stated that it expected a tariff roll back as a condition for an agreement. The U.S. counter… View More

How the market interprets the news….it’s not how you think it would be…

by Fortem Financial November 11, 2019

In the stock market, expectations matter. At any given moment, the stock market will reflect a certain set of expectations. And so, what moves markets are changes in those expectations. In other words, news doesn’t have to be good or bad on an absolute basis to move markets. It just has to be relatively better or worse than what was expected. Based on this logic, you can have bad news crossing the wires. But as long as investors and traders were expecting worse, you should in turn expect price… View More

As we said weeks ago, there are no signs of recession on the Horizon. Earnings continue to outperform

by Fortem Financial November 4, 2019

Fears that a slowing economy might lead to a recession eased last week as corporate earnings continued to outperform expectations; Friday’s jobs report provided additional optimism. The S&P 500® Index and the Nasdaq reached new highs as investors moved from safe harbor U.S. Treasuries into the equity markets. For the week, the Russell 2000® Index (1.96%) led followed by Nasdaq (1.74%), S&P 500® (1.47%) and Dow Jones Industrial Average (1.44%). Over 70% of companies in the S&P 50… View More

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