I am continuing to recover from the China Virus, slowly but surely. I will not be back to work until the end of the week. Of course, it is difficult to think, write and work with all of the medications. I have appreciated all the good wishes and have heard from many of you who are also sick. Hopefully, there won’t be much more of this craziness. I will also be thankful for natural immunity – but it is definitely earned.
The Founders Group came into the year 100% in cash which is where the models remain at this writing. This morning, the S&P 500 index is coming into important support on the weekly channel line. This will test the intermediate trend which has held in spite of the volatility of the past few months. Until this support is violated, the bull market remains intact, but perhaps now in a sideways trend.
We get the CPI numbers this week, as well as more Fed commentary. That will add to the debate as to what the Fed will have to do and how the market will react to it.
I look forward to getting back in the saddle.
A.F. Thornton