ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
December 30, 2023 | Tech Talk for Saturday December 30th 2023
Don Vialoux
The Bottom Line
For 2024, look for North American equity markets to follow the U.S. Presidential Election cycle. The Dow Jones Industrial Average in the fourth year of the U.S. Presidential Election years since 1930 has a history of moving higher. Average return per period is 8.0%. However, “Mind the Gap”. The 8% gain also includes a period of weakness averaging 1.8% from January 4th to March 14th. Given current extremely overbought levels (based on Percent of S&P 500 stocks trading above their 50 and 200 day moving averages), probability of a mild correction between January 4th and March 14th this year is high. See Momentum Barometers for S&P 500 and TSX stocks at the end of this report. Weakness into the correction will provide a renewed buying opportunity.
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Don Vialoux December 30th, 2023
Posted In: Tech Talk
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