USA Fair Value Report – 2019 April 23

MidCap reaches Cautionary levels at 121.6% Fair Value while Total market advances to 116.0% Fair Value.

World Economic Summary

Australian building environment and retail sales improved while Canadian employment remained in good favor. French trade improved with German industrial production and Russian GDP. Most of the world continues to enjoy low inflation.

World Markets Stock Consideration Report – USA – 2019 April

Approximately, 23% of the market is in the SELL WATCH/SELL classification and 17% in the BUY WATCH/BUY classification. This is a much better, balanced condition, than what we experienced at the end of 2017 when 24% was solidly in the SELL/Overvalued classification and only 11% in the BUY/Undervalued classification. This lopsided condition continued to get worse until the last quarter of 2018 when stock prices reversed and relative valuations on the SELL classification returned to normal. The current levels of 11% SELL and 9% BUY are supportive of continued improvement in the market. Please do not equate that to a belief that the market will never go down again, because it will, but it is true that relative valuations can support higher market values for some time into the future.

USA Fair Value Report- 2019 April

Advances in valuation slowed in March to just 3.3 points in LargeCap and 2.4 points for the overall market. Smallcap retreated back closer to fair value giving up 1.4 points. All categories are well within fair value range at the end of the 1st quarter. We now have a 10.8 point spread between the highest valuation, MidCap at 116.0% Fv and the lowest, Smallcap at 105.2% Fv.

World Economic Summary – 2019 April 1

In North America Canada continued to slow while American housing moved ahead slightly. Consumer expectations softened but employment remained solid. Europe experienced high expectations in Germany and France but disappointments in Spain. Japan watch retail sales improve and Singapore industrial production moved to the positive side. Unfortunately, South Korea watch theirs slow.

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