Thanksgiving 2023: Old Normal Plays on

The major indices finished the holiday-shortened week up for the 4^th week in a row.  Some softer economic data bolstered hopes that interest rate relief could be just around the corner.  Many smaller countries have already begun rate cut cycles.  The Dow, the Nasdaq, and the S&P 500 each hit marginal fresh multi-month highs nearly every day last week, with the Nasdaq 100 surging to a year-to-date high.  The Dow (+1.3%) and S&P (+1%) led the way higher last week. The Volatility Index (VIX, +2.7%) closed last week near a post-COVID low.

Healthcare was the biggest winner of the holiday-shortened week, up +2.25%.

 

The S&P 500 ended the week at 4,569.  The index is now back up over 20% YTD but remains flat to down for the 2-year period.  While strong, the market has gone from oversold at the end pf October to short-term “overbought” territory.   While many doomsdayers might come out of the woodwork with more negative calls on this technical set-up, and our investment team does now expect gains to slow down “net” for a few weeks, we do not foresee any impeding doom the remainder of 2023.

 

“Stock Talk” can be found by clicking on this link and subscribing to its own content.

https://www.youtube.com/@OakHarvestStockTalk.  Alternatively, you can type “Stock Talk with Chris” in the You Tube search box, and you should be directed to the new content.  The investment content will be a “sub-channel” under our current OHFG channel.  Please subscribe if you are interested.

 

Oak Harvest Weekly Stock Talk: Giving Thanks in 2023 to the “Old Normal”

https://www.youtube.com/watch?v=ugjsh1tJ-rY