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September 8, 2023 – Investors and traders are getting back to “Normal” as the summer winds down. The period from late August through early October is seasonally weak and the 4-day week last week did not inspire anyone.
Oil & Gas went higher due to the Saudi’s and Russia’s agreement to raise prices and limit production. (Does anyone think these folks are pro-Western?) And of course, concerns about interest rates rising again. The bottom line is fear was in the news and greed (anticipation of higher stock prices) took a back seat. Interest is select Technology stocks did add a glimmer of hope but Financials and China put a damper on any rally.
The Short-Term Sector Strength table is shown at www.Special-Risk.net .
Not much more to say until more folks get back from vacation and get serious on where they want to take this market. It could go either way out of this trading range. I am roughly half Cash and half invested. Have a good week. ………….. Tom …………..