The S&P 500 reached an all-time high as year-end buying accelerated. Historically, equities tend to rally during the final trading week of the year and into early January. Our market indicators have stabilized after a series of pullbacks over the past month, which suggests moderate risk-on conditions could persist over the short-term.
We rotated some cash into the S&P 500 benchmark over the past month, which resulted in lower risk across portfolios. At the same time, we concentrated on tactical positions such as adding to our healthcare overweight as the sector improves relative to the overall market.
S&P 500 makes a new high
Source: Cannon Advisors, TradingView