In this first installment of our Monthly Market Monologue, we review the key indices' performance for 2023. Since the S&P 500's return for 2023 looks impressive, we (once again) do the math to show that this index's return came as a result of The Magnificent 7.
We also highlight the "big bases" that we are seeing in the monthly charts. The fact that we are seeing so many of them, and the fact that we are seeing momentum coming out of these bases, is a good sign for 2024.
But after the strong November & December, we should not be surprised if the market sells off a little to digest the rally we have witnessed since November 1st.
#themagnificentseven #sp500 #stockmarket #yearinreview #activemanagement
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