In this edition of our Monthly Market Monologue, we pick up where we left off in last week's video and provide an update on the key levels we are watching to help us guide how aggressive we should be in client portfolios.
As promised, we also go through a couple of economic data points so as to share some of our concerns about the economy. We look at the GDP estimate for the third quarter, as well as the expectations for the Fed Funds Rate. The interest rates have risen dramatically, so we are not surprised in some of the economic data, but we would be remiss if we did not point them out. We also take a look at what Dr. Copper is telling us.
Finally, in last week's video, we stated that we are not in a bull market. We said that we are not in a bear market, but that this is not a bull market either ... yet. We are still in a transition phase. We are transitioning from a bear market to a bull market. However, this prompted one viewer to ask us, "If this is not a bull market, how would we define one?" So we answer that very important question in today's video.
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