Last week many of our covered ETFs had daily gains, and losses, of almost 1%. At the end of the week the gains prevailed and most of our ETFs rose about 1%. Domestic Small and Midcap ETFs ( IWM, IJH, IJR, MDY) did better with gains of over 2%.
Market pundits continue to talk about the risks of owning stocks in this environment, and they may be right. Actually they have to eventually be right if they maintain their cautious stance. However these are the same pundits that were telling us to be cautious six months ago when the S&P 500 was 10% lower.
Currently our indicators are dominated by Green Arrows (i.e. positive Long Term trends), as they were six months ago, so we are maintaining our positive predisposition toward the markets.
