2018 – Q2 Review – North America

SYNOPSIS

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Happy Canada Day, Canadian members of The ProfiTrend Advantage!

Yes, we optimistically thought that Canada Day would be the official date for the legalization of recreational marijuana, but the provinces (who insisted on setting their own distribution strategies) begged for an extension to October 17even though they had two entire years to prepare!!!

Meanwhile, no country will fail to retaliate now that Trump has declared a global trade war, and Americans will lose the most. Trump can’t seem to grasp that his tariffs are punishing his voter base, not foreign countries. Watch this video on how his tariffs on solar panels are eliminating thousands of US jobs!

Day by Day… Stocks slid mid-week, only to return to a smaller loss for the week overall.

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PTP… Our PTP APAR score held steady, since our last report. The S&P/TSX Composite Index APAR slid a dozen points, while the S&P 500 score slipped into slightly negative territory.

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Over the past week we sold three positions on routine stop-loss signals and added two new ones.

Investor Confidence… The June 2018 results for the State Street Investor Confidence Index (SSICI) arrived last week. This is not an opinion poll. The SSICI is a measure of actual money flows between equities (higher numbers) and safer income securities orchestrated by institutional investors (the “smart money”). The Global Investor Confidence Index decreased to 101.7, down 2.1 points from May’s revised reading of 103.8.

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As usual we provide more detail on the regional ICI’s in the complete Investor Confidence section of TrendWatch Weekly.

PTA Perspective… 2018 – Q2 Review – North America
It’s hard to believe that we’re half-way through the year already, but that means it’s time for our rear-view mirror look at how 2018 has fared so far. As has been our practice lately, we’re splitting our coverage between this week’s review of Canadian and US stocks, and a subsequent look at North American equities in a global context (which you’ll see next weekend).