Technical Indicators
The Moving Average Convergence Divergence (MACD) indicator shows that what I consider to be a bear market rally is fading.
Chart #1: Technical Indicators
Source: Created by the Author
Investment Model
It is no surprise that the Investment Model is cautioning to be conservative. The U.S. is in a recession. Following Howard Mark's philosophy, I choose to be more defensive and near Benjamin Graham's guideline of a minimum allocation to stock of 20%.
Chart #2: Investment Model
Source: Created by the Author Based on St. Louis Federal Reserve FRED
Smart Money
Institutional investors