Happy spring! The Bradford Pear trees and daffodils are beginning to flower here in Tennessee—one of my favorite times of the year!
And this year, with the market continuing to “bloom,” the unemployment rate steady at 3.8%, retail sales rising, and the housing market healthy, it sounds like spring is ushering in a happy period. Both investors and advisors agree, as you’ll see in our bullish barometer and Market Views.
Wall Street’s Best Investments 815
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Market Views
Testing Resistance
Technically, the market experienced a two-week consolidation sufficient to resolve an overbought condition. With the return of some indicators to oversold territory, the S&P 500 could once again be positioned to test resistance above the 2800 level.
Timer Digest, P.O. Box 1688, Greenwich, CT. 06836-1688, 203-629-3503, March 11, 2019
Gold Grasping for a New Level
Oil prices gained ground on reports Saudi Arabia was considering reducing crude oil exports next month and Venezuela exports have declined after a massive power outage. At the close, oil for April delivery was up 72 cents, or 1.3%, at $56.79 per barrel.
Gold was turned away at the psychologically significant $1,300 mark following a round of upbeat economic reports. April-dated gold fell $8.20, or 0.6%, to settle at $1,291.10 an ounce.
Bernie Schaeffer, Schaeffer’s Investment Research, www.SchaeffersResearch.com, 800-327-8833, March 11, 2019
We Love Contrarian Indicators
It is nice to see the big drop in the gap between optimists and pessimists in the latest sentiment survey from the American Association of Individual Investors. This is true as the week prior’s Bulls less Bears number of 20.6% was the largest since the market apex last September. Of course, AAII data and subsequent equity performance suggest that while folks should be greedy when others are fearful, returns have been positive, on average, even with an “optimistic” AAII Bull-Bear spread.
John Buckingham, The Prudent Speculator, www.theprudentspeculator.com, 877-817-4394, March 11, 2019
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THE NEXT Wall Street’s Best Investments will be published April 10, 2019
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