Now and then we are fortunate to have guest authors who specialize in an area that we deem to be important to you, the reader. Tom has many years of experience in the field of Estate Planning, so when we asked for his comments and he agreed to write an article for you, we were pleased. Enjoy!

Market Minute – Bulk of the Evidence is (Finally!) Positive

As we look at this week — and indeed the past couple of weeks, it’s still a bit of a mixed bag. On the plus side the transports are looking healthy – that’s always a good sign because it is evidence that companies are shipping their stuff, not just making it and that means demand is up.

The S&P 500 now has the shorter Moving Average (50 day) above the longer one (200 day) and it’s been there for 2 weeks. That’s a very positive place for pricing to be. As a matter of fact the S&P Index* is now close to its high from January of 2018 – also finally! Breadth is looking pretty good with only the energy sector showing weakness. I have to say that the weight of the evidence now favors the bulls. If the S&P Index can manage to exceed its high from last January, perhaps we’ll have smoother sailing for a while. It almost seems odd that Utilities and REITs (both very defensive holds) are still at the top of the strength heap-so there are still investors that are not convinced the recent ugliness is over, but we’re glad to see that Technology has joined them at the top of the heap – so we’re seeing more optimism with the tech gains. For the moment we are closer to fully invested, and becoming still more optimistic about this year’s possible gains.

Ronald P. Denk, CFP®
Investment Advisor
Denk Strategic Wealth Partners
10000 N. 31st Avenue, Suite C-262
Phoenix, AZ 85051
Phone (602) 252-8700
Fax (602) 252-8701
Toll-Free (877) The-Denk

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Ronald Denk is an Advisory Representative offering services through Denk Strategic Wealth Partners, A Registered Investment Advisor. He is also a Registered Representative, offering investments through Lincoln Financial Securities Corporation, Member FINRA/SIPC.

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*The indices are representative of domestic markets and include the average performance of groups of widely held common stocks. Individuals cannot invest directly in any index and unlike investments, indices do not incur management fees, charges, or expenses, therefore specific index returns will be higher. Past performance is not indicative of future results.