SmarTrend Weekly Performance Statistics
Last week we saw a reversal from the prior week as the number of Uptrends outpaced the number of Downtrends. Consistent with the current state of the market, the SmarTrend Ratio (% of Uptrends vs. total trends) continues to vacillate in the high 70% range although off the highest levels for the year. The best Uptrends continue to outperform as the average Uptrend is now topping 44% in return since the Uptrend alert. This is a high for the year which provides us with further evidence that the market continues to favor the stocks that have led the broader market during this now 6-month old rally. Total number of Downtrends, and average Downtrend performance, remains relatively steady as investors have not yet found a sufficient catalyst to sell their winners or to increase bearish bets. Perhaps the market awaits third-quarter earnings reports or additional macroeconomic data before bets - in either direction - are made. We eagerly await the results and will be sure to notify subscribers if any changes in trend occur in their portfolio holdings.
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