Good Evening
A shorter update tonight but FYI the Dow Jones Industrials index fell over 400 points mid-day, closing 200 points to the negative. This will be the fourth, out of the prior five sessions, that it has closed down.
Believed to be behind the market angst are concerns over the reported upcoming US/China summit in Washington DC. We have heard numerous versions of “good news coming” and “talks are going great” but now it is time to put powder on the table- the previously “set in stone” March 1 deadline is now past…the next benchmark is March 27, 2019.
A look at the SPY Exchange Traded Fund shows some insight into the volume, it indeed traded above average today, interestingly this is the first time since Jan 3, 2019 that a sell-off occurred with volume above average:
That is all for now….I remain “risk averse” and conservative while we navigate the turbulent waters. My personal TSP Allocation is 100% G-Fund.
-Bill Pritchard
