Coronavirus Operations Memo: Click Here | Magnus documents: Form ADV | Form CRS | Privacy Policy

October 2019

Pointing to New Highs…However…

Technical Breakout May Push Stocks Higher

Federal Reserve interest rate cuts have seemingly eased some concern over a full blown equity stall, and the U.S. and China appear to be haltingly stepping toward some near-term trade accord. Both issues have helped lead to an improvement in investor sentiment and a recovery in stock prices. Notably, U.S. and developed foreign markets have recovered to reach all-time highs. The question is whether they will be able to hold key technical price levels. Meanwhile, emerging market equities are still mired in a relative slump as a downtrend in that market has been forming since April 2019 highs.