After a very fun but very busy holiday season with a full house (just a matter of how many at any particular time) for about 3 weeks straight, then a very busy work start to the new year; I must admit I am looking forward to a fairly quite weekend of playing catch up.
This Past Week; That makes it 2 very positive weeks in a row to start the year for US and Global equity markets. Unfortunately it was not so for the TSX which was down about 1/3%. However, it is still positive for the year up about 2/3%.
2018 – Our analysists see a very low chance of recession historically speaking. While we never know what can happen, at this point our main recessionary indicators are not even yellow never mind red. We are all green for go or growth. One of my favorite and most seasoned analysts, DS Portfolio Strategist Jim Allworth, likes to say we can predict recessions but, we can’t predict pullbacks. They are a normal part of a Secular Bull Market. Given everything we know at this point in time, we wouldn’t be surprised at all to see a normal market pullback in 2018 (especially since we did not have one in 2017). We would expect though, that it will be a buying opportunity and markets would move upward and onward from that. There are certainly no promises, guarantees, or assurances. There are different geographical regions and markets, and potential uncertainties so we never know what regional markets and the year will give us. Having said that; our analysts believe we should give equities the benefit of the doubt.
Global Insight WEEKLY
January 11, 2018
The Weekend/Weather; After a reprieve from the brutal cold this week, we are paying for it with a storm and slippery roads this afternoon, and then going back to negative temperatures tomorrow.
Nonetheless, have a great weekend!
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