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VIG Newsletter June 22 2024 Update

VIG Newsletter June 22 2024 Update

NVDA down this week. Will it lead us to a greater market correction?

Recap

The S&P 500 made modest gains this week. The strongest sectors were Consumer Discretionary and Energy. Nvidia was down over 4% which pulled the semiconductor sector down to the weakest performance.

The Vig Co. portfolio was down this week.

Performance (Weekly/YTD)

VIG Co. -.41% / +13.08%

SPY +.64% / +15.29%

VIG Co. Portfolio Holdings (Allocation).

KIAM V3. (100%)

Notes/Charts

Here are a few things we are watching.

KIAM V3 had a volatile week. You can see the chart here. We were short to start the week and the markets moved higher. This hurt our performance on Monday and Tuesday. We recovered on Thursday and Friday.

Even though we were down, KIAM V3 did a good job reading the market. We were short most of this week as market conditions were extremely overbought. The Nasdaq RSI was in the highest 1 percentile in it’s 39-year history. And yet, the market went higher with NVDA leading the way. Here is a view of that RSI.

Nasdaq RSI

Plan

KIAM V3 is leaning long heading into Monday’s session.

We will follow the math.

Note: Check out the updated App for Composer. (There is a link to it atop your Composer home page.) It works great.

Chris

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Market information from Bloomberg, ETRADE, Composer, Koyfin, and StockCharts.com.