At last, market volatility has lessened and the Dow Jones Industrial Average is steady, resting at about the same level as it was at last month’s issue.
Economic stats also remain status quo, with a slight improvement in job openings, a small dip in retail sales, and a Consumer Sentiment Index that continues increasing.
That has given rise to a return to a more bullish environment for advisors, as you will see in our Advisor Sentiment Barometer and our Market Views this month.
Wall Street’s Best Investments 805
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Market Views
Market Breadth Positive
Breadth was negative with -381 net advances on the NYSE and -244 net declines on the Nasdaq. Preliminary new highs on the NYSE were 119 and 32 new lows. The Nasdaq had 150 new highs and 31 new lows. It’s a good sign market breadth has been positive on both the Nasdaq and New York Stock Exchange for 6 days in a row. Also, the NYSE Cumulative Advance decline line has made a new high. This normally means a final high to an advance has not been made.
Dr. Marvin Appel and Gerald Appel, Systems and Forecasts, www.systemsandforecasts.com, 800-829-6229, May 14, 2018
Dollar Looks OK for Now
The rise of other currencies’ popularity could pose a threat to the dollar, but it won’t be any time soon. Political and economic instability will keep investors away from other currencies in the near term, but changes in the global environment could force the United States to reconsider its global activities if it senses the dollar is losing its footing as the lead currency in the global trade.
Ron Rowland, All Star Investor, www.AllStarInvestor.com, 800-299-4223, May 14, 2018
Still Bullish
With sentiment far from optimistic, interest rates still very low by historical standards, corporate profits poised to enjoy significant growth this year and next, the global economies showing modest to moderate growth and equity valuations far more reasonable after this year’s churning, we see plenty of reasons to remain positive on the U.S. and global equity markets.
John Buckingham, The Prudent Speculator, www.theprudentspeculator.com, 877-817-4394, May 14, 2018
To read the rest of this month’s issue, download the PDF.
THE NEXT Wall Street’s Best Investments will be published June 20, 2018
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