September 24, 2017
 
 
 

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September 11, 2017
September 11, 2017

USIR Weekly Update Hotline

USIR Weekly Update Hotline

For Monday, September 11, 2017

 

Mixed Market amid Ill Winds

That encouraging jump in stocks just before Labor Day weekend melted last week in the shortened four days of trading through Friday. Both the S&P 500 and the Nasdaq composite indexes dipped back under their mid-summer peaks. They did, however, manage to close last week above their 10-week moving averages, a positive technical sign.

            The fact is, there are too many economic, financial and political ill winds bearing down on stockseven as Texas and Louisiana mop up after hurricane Harvey and a potentially more devastating hurricane Irma heads into Florida and the southeastern states. These include uncertainty about interest rate policy as the Fed meets this week, undelivered campaign promises by the Trump Administration, and light trading volume.

            Whats Next? Dont be suckered in by a market bounce-back the next day or two. Wait for a real rally to emerge.

Unlike the Floridians fleeing north on clogged highways and running out of gasoline, equity investors have better escape routes and more optionsespecially those who have kept stop-loss limits tight and allowed cash from stop-outs to accumulate.

            Sitting tight and resisting the temptation to bottom-fish prematurely is a wise policy at this uncertain juncture. Biding ones time and waiting for a confirmed across-the-board rally will keep assets safely intact for the better days that lay ahead.

Stephen W. Quickel, Editor

 


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