Market recap, open positions, new signals, and performance of six trading strategies. Tactical asset allocation, mean reversion, cross-sectional momentum, and equity long-short with weekly and monthly updating. Access the full report with a Market Signals or All-in-One subscription.
Contents
1. Market Recap and Comments
2. Performance of the Ensemble and Benchmarks
3. Positions and Performance of Strategies
4. Signal Summary for Next Week
1. Market Recap and Comments (April 29–May 3, 2024)
Summary: Stocks rebounded and bonds rose, while gold, commodities, and the US dollar ended the week with losses.
Large-cap stocks (SPY) gained 0.6% in anticipation of a slowing labor market and increasing odds of rate cuts in September. The equal-weight S&P 500 ETF (RSP) finished the week up 0.2%. International stocks (VEU) added 1.7% as gold and the US dollar fell.
The TLT ETF rebounded 2.2% in response to expectations of a slowing economy and a dovish Fed. The DBC ETF fell 2.3% due to a sell-off in the energy sector. Gold (GLD) fell 1.7%. The US dollar (UUP) finished the week down 0.8%.
2. Performance of the ensemble and benchmarks
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