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3rd Quarter 2017

by Bill Hoover on Oct 16, 2017

Steady as she goes.

Euclid and the markets continued to be optimistic through the 3rd quarter. Valuations remain at the upper end of normal, but so far the economy has grown fast enough to justify, and even upgrade, expectations. The most recent GDP report was actually revised up slightly while crucial factors like inflation and job growth continue to be favorable. Some wage growth along with the new jobs would be welcome, but then that might imply stronger inflation.

Our review of the markets from October 4 2017

by Bill Hoover on Oct 16, 2017

1. Foreign Markets (Asia Pacific ex Japan, Emerging Markets and Europe) high flying leaders showing signs of weakening

2. Tech Dominated NASDAQ index weakening with relative strength under performing the broader S&P. Tech seems to be rolling over.

3. Relative strengths of the Russell 2000 and the Equal Weight Value Line Arithmetic vs the S&P 500 continue to increase. This is positive for the market suggesting Domestic Stocks are in favor.