V2 Model May 21 2023 Update

Let's See Where Debt Ceiling Debate Goes?

May 21, 2023

Recap

The major indices all logged gains this week, which ends a six-week consolidation for the S&P 500 where it neither gained nor declined more than 1.0%. The S&P 500 also hit a new closing high for the year on Thursday (4,199) and a new intraday high for the year on Friday (4,212). The index was unable, however, to maintain a posture above 4,200 (see chart below) on a closing basis, which has been an area of stern resistance since August 2022.

The V2 Portfolio was down this week

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