EFA - My Current View Of The S&P 500 Index: February 2024 Edition (Technical Analysis)

2024-02-02 10:44:23 ET

Summary

• I will maintain a 100% allocation to the SPDR S&P 500 ETF in my pension plan.
• My investment strategy aims to preserve capital and avoid large drawdowns.
• SPY had a positive performance in January, while the other ETFs that I follow lost money.

In this month’s article, I outline why I will maintain my position of having 100% of my pension plan assets invested in the SPDR S&P 500 ETF ( SPY ). I will not have a cash position. First, let me review my pension plan performance in January. The market, as measured by the S&P 500 index, gained 1.59% for the month as can be seen in Chart 1 below. As for my pension plan assets, I matched the index as my investment allocation gained 1.59%. My investment objective of preserving my capital was met as I did make money. I did not meet my second investment objective which is beating the S&P 500 index. Table 1 below shows the returns and my allocations for the month of January and Table 2 below shows my returns for the past 12 months....

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