My last post covered the test of previous highs for the S&P500. A few days ago, the stock market pushed above the previous highs. After the Fed’s rate decision and announcements about their interest rate policy, ALL of the major asset classes took a big hit for a couple of days. However, today, all major asset classes are back on the rise, and, at this writing, the S&P500 is right back at the record highs.
Interestingly, gold, silver and the miners all established intermediate downtrends just this week. Accordingly, I rebalanced the portfolios, reducing the gold allocation and increasing all the other asset classes. It’s nice to have the luck for all of these assets we bought Wednesday and Thursday to be up nicely today.
Have a great weekend!