S&P 500 gained 2.57% after Fed's 0.75% rate hike, showing market resilience to bad news
C and S funds reached 7-week highs with 3 of last 4 weeks positive, signaling bullish trend
Apple earnings beat expectations, boosting after-hours trading and tech sector outlook
Last weekend I mentioned that we still have one July reallocation available. Dependent upon the markets reaction to the Fed announcement and Apples earnings, stand by for a Thursday Mid-week alert for execution on Friday, the last trading day of July. Well, the markets shook off what could have been perceived as bad news. On Wednesday the S&P 500 gained 2.57% in the face of a 0.75% Fed rate hike. On Thursday the S&P 500 again had a positive return in the face of two straight down GDP quarters. And after the markets Thursday close, Apple announced earnings which beat expectations leading to further gains in after hour trading. On the technical side, the C and S funds benchmark indices have also turned more bullish. Looking back seven weeks, both the C and S benchmarks closed at a new high on Thursday. And for both, the last two weeks have been positive, and three of the last four have been up. As such we are recommending the following reallocation.
Recommended Allocation (Moderate Profile)
This is our historical recommendation from this date.
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Last weekend I mentioned that we still have one July reallocation available. Dependent upon the markets reaction to the Fed announcement and Apples earnings, stand by for a Thursday Mid-week alert for execution on Friday, the last trading day of July. Well, the markets shook off what could have been perceived as bad news. On Wednesday the S&P 500 gained 2.57% in the face of a 0.75% Fed rate hike. On Thursday the S&P 500 again had a positive return in the face of two straight down GDP quarters. And after the markets Thursday close, Apple announced earnings which beat expectations leading to further gains in after hour trading. On the technical side, the C and S funds benchmark indices have also turned more bullish. Looking back seven weeks, both the C and S benchmarks closed at a new high on Thursday. And for both, the last two weeks have been positive, and three of the last four have been up. As such we are recommending the following reallocation.