October 2017 Market Update

The broad stock market continues to advance as tragedy, both man-made and from nature, continues to envelop our land. Hurricanes have ravaged Texas, Florida and parts of the Caribbean, and a mad-man shooting spree into a Country Music concert in Las Vegas has left the country exhausted from going from one crisis to another. So how come the stock market continues to climb in the face of all this property and personal carnage? With the S&P 500 up 1.82%, the Dow up 1.90%, the NASDAQ up 0.83% and the Russell 2000 up a whopping 6.09% for September, it doesn't look too much like investors are paying much attention to all these peripheral issues. Sometimes momentum keeps the indexes gaining even when it doesn't make much sense. We recently got more invested in our managed portfolios when our short-term indicator went positive. While we still will not participate in the entire upswing of a market index because of our cautionary management style, we will try to receive a good portion of it. However, when our indicators turn negative we will not hesitate to reduce our exposure to the market, thus hopefully not getting a complete market loss, either. We always try for a smoother ride, though we can't always guarantee it. As of this writing, though, the market looks poised to rise some more. And we hope to capture much of it.

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Securities offered through Cambridge Investment Research, Inc., Member FINRA, SIPC and Investment Advisory Services offered through Cambridge Investment Research Advisors Inc, a Registered Investment Advisor. Cambridge and Provest Wealth Advisors, Inc are not affiliated. We are licensed in the following states:NC, SC, GA, FL, VA, TX, TN, ME.

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