What did we know and When did we know it?
Last week, the US market experienced a significant decline, primarily driven by a downturn in the semiconductor sector. Concurrently, we observed a notable shift in long-term investment strategies, as funds moved from high-risk segments towards safer options. Wtilities emerged as the standout performer amidst this movement.
In Canada, commodities continued to buoy the market, although this trend may not be sustainable in the near future.
A noteworthy observation is the potential reversal of fortunes for stocks that led the market's ascent in 2023, as they could now be positioning to drag the market down in 2024.
With the VIX still on a weekly buy signal, we remain long term bearish on the market.
With the VIX on a daily buy signal, we remain short term bearish on the market.
All for nnow.
This content was originally posted on the Stock Market Timing YouTube Channel