Market Risk Report as of April 19, 2021

From Chief Investment Officer Tom Veale,

“No change is seen this week in SinglePoint’s Market Risk Indicator (MRI) keeping it at 46 with a minus 1 MRI Oscillator reading. Two MRI components rose slightly while two declined modestly with last week’s trading. Two remain bearish while two are now neutral in their own ranges. The Q1, 2021 Earnings will be crucial in lowering overall market risk and specifically our Relative Valuation Index which is currently bearish.

The NYSE shows better breadth than the NASDAQ Composite currently. New 52 Week Highs still outnumber New Lows by a substantial amount. Other “technical” indicators are neutral to positive. It is concerning to see the number of issues being traded weekly expanding at an unsustainable rate. So far in 2021 there’s been a 10% increase in the number of issues traded weekly. Dilution effect will eventually be seen because of this.”

 

Best regards,

Tom Veale