The stock market is up nicely so far in 2019, producing the best nine-month gain for any year in a bull market that began in 2009. It is interesting that strong stock markets at the nine-month mark in 2009 and 2013 resulted in above-average fourth quarters and the best two stock years in the bull market to date. But stocks were also making all-time highs in early October last year; yet by mid-month, stocks were in freefall. Although a sharp fourth-quarter selloff could happen this year, the 2019 stock market has one thing going for it that it lacked in 2017 & 2018 – impressive breadth, with leadership equally divided between risk-on and defensive sectors. Market breadth is no guarantee against a broad-market selloff. But investors appear to be spreading their bets across sectors, which shows a willingness to stay invested amid tumultuous political and economic headlines. Indeed, broadly advancing markets are regarded as having stouter “legs” that provide balance against the buffeting forces of bearishness.
Gibraltar Asset Management is a trading name of Gibraltar Asset Management Limited
Authorised and regulated by the Financial Services Commission
World Trade Center, Suite 5.28, Gibraltar
Phone: +350 20075181 | Email: firstname.lastname@example.org
Registered Address: World Trade Center, Suite 5.28, Gibraltar. Number: 18064.
© 2021 Gibraltar Asset Management Limited