June’s jump sure was good to see. After April and May’s outstanding moves, June gave us another upside swing in the S&P 500. We’re now sitting at record highs. All of us will soon receive your second quarter statements, likely with some of the highest balances we’ve ever seen. Just remember that, when investing, we’re bound to get a pullback. The “when” is the tricky part—will we run another 10% up, will it be 1%, will it be 5%??? That is the eternal stock market question.
From a technical perspective (if you’re into that sort of thing), the S&P 500 hit it’s first “Golden Cross” in two years. This is when the 50-day moving average moves above the 200-day moving average. It is normally a good sign of upside momentum. There’s an even more rare upside technical signal that flashed a couple months ago that is still working out as well. You can read about it here.
The Federal Reserve chair, Jerome Powell, didn’t completely rule out a July rate cut! That was an interesting statement. The markets were expecting a September cut, but now some thought has moved to July as the first cut, which would be welcome news to the markets and borrowers alike.
Basically, we’ve received a bunch of good news over the last couple of months. We’ll see how long this run can continue, which would be forever in a perfect world! Just remember that this is the time to review risk so feel free to reach out any time for a review.
Have a great 4th of July! Enjoy your summer and thank you for sticking with us!
Larry Mroczkowski
President
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. All investing involves risks, including the loss of principal.