Market Commentary June 2017
Please find this month’s Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market.
As indices hover around all-time highs, investor unease remains palpable. Partly that is seasonal as “sell in May and go away” reminders litter the financial press. Partly it is logical, as the market has logged a 10% gain in the past six months – equivalent to more than an average year’s gain. ETF outflows are now signalling that risk is being taken off the table. As a result, the equity market is lacking the breadth and conviction that would reassure bulls. Whilst we see few signs of an imminent bear market/recession, there are plenty of catalysts for a 5%-10% pullback. Thus, for new money we advise waiting for a more opportune moment to deploy cash into equities.