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Cacic Wealth Management

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Address 500 Centre Street SE 27th Floor Calgary AB, T2G 1A6
Telephone Number (403) 508-3230
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Milan Cacic

October 08, 2021

Money Economy Commentary Trending Weekly update
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A FEW TECHNICALS FOR THOSE INCLINED…

  • September is historically the weakest month of the year with an average return of -1.1% for the S&P 500 and -1.2% for the S&P TSX 300.
  • The S&P 500 continues to make all-time highs. It has not dropped below its 50-day moving average since June.
  • Under the surface however, 40% of the S&P 500 constituents are trading below their 50-day average.
  • 66% of the Russell 2000 constituents are trading below their 50-day moving average.
  • Most of the returns over the past three months have been generated by only 10 stocks. These 10 stocks carry an 18% weight in the S&P 500 and 30% weight for the S&P TSX 300.
  • Historically speaking, narrow breadth of the market, where not all the stocks are participating, is a bad sign.
  • To most people’s surprise, technology/growth stocks may be the best place to be during times like these.

I've also included a piece from our CIBC Economics Team entitled “Horseshoes and Canadian elections”.

 

As always please feel free to contact us if you have any questions.

 

Have a great weekend.

 

Milan

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CIBC Private Wealth” consists of services provided by CIBC and certain of its subsidiaries through CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (“CAM”); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (“WMI”). CIBC Private Banking provides solutions from CIBC Investor Services Inc. (“ISI”), CAM and credit products. CIBC Private Wealth services are available to qualified individuals. Insurance services are only available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are only available through CIBC Wood Gundy Financial Services (Quebec) Inc.


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