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Stocks got a shot across the bow this week, as the Fitch Ratings service dealt the U.S. a surprise and very rare credit rating downgrade, which gave traders a good scare mid-week. But it was just a shot, and it looks like traders have moved on. Earnings season is over, and though it was a mixed bag, indexes held up nicely. Bad news is good news and good news is great news. Such is 2023 so far.
We haven’t changed our tune. We believe the market is moving along in a topping process. A rollover can happen at any time, but we think stocks still have a chance to run a little higher before we’re all done. So we keep playing small ball, with an ever-increasing eye on the exits.
The views expressed represent the opinion of Good Life Asset Strategies, LLC. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and nonproprietary sources that have not been independently verified for accuracy or completeness.
Good Life Asset Strategies, LLC is a registered investment advisor located in Fort Worth, Texas. Good Life Asset Strategies, LLC and its representatives are in compliance with the current registration and notice filing requirements imposed upon registered investment advisors by those states within which the firm maintains clients.
All information herein has been prepared solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. Such an offer can only be made in the states that Good Life Asset Strategies, LLC is either registered or a notice filer or an exemption from registration is available under the securities laws or other laws.