January 8, 2019
8:45 am EST
At SIA Wealth Management everything we do is based on Relative Strength Analysis. We evaluate the Relative Strength between asset classes giving us insight into money flows on a large scale, and from this select top ranked investments.
Market Commentary By:
Colin Cieszynski, CFA, CMT
Chief Market Strategist
+1 (647) 282-4428
Special Event: BMO SIA Focused Funds Webinar With Jeremy Fehr
Date: Wednesday, January 9, 2019
Time: 2:00 pm EST, 12:00 pm MST
SIA Wealth Founder and CEO Jeremy Fehr will be providing a market update and an inside look into SIA Wealth Managementâ€™s investing process, particularly as it relates to our two new Exchange Traded Funds, the BMO SIA Focused Canadian Equity Fund (ZFC), and the BMO SIA Focused North American Equity Fund (ZFN). These are tactical equity solutions designed to gain access to the technical and relative strength analysis expertise of SIA Wealth Management in a high conviction, unconstrained portfolio of 15+ equities.
Morning Market Commentary
Walls, physical and legal, have become the topic of the day for investors. With the US partial government shutdown dragging on with no end in sight, President Trump has scheduled a television speech for 9:00 pm EST to discuss the Mexican Border Wall issue with the potential he could declare a national emergency. This would apparently give him the power to fund the project without going through Congress and break the budget impasse.
While working to build a physical barrier on its southern boundary, the US continues to work toward tearing down trade barriers with China. It could take until the March 1 deadline to get a deal done but progress to date helped Asia Pacific markets to shrug off profit warnings from consumer tech giants LG and Samsung. The Nikkei gained 0.8% on the day with the Hang Seng rising 0.15%. Meanwhile in Europe, stocks have been climbing a wall of worry this morning with the FTSE and Dax both gaining 1.0% despite ongoing Brexit uncertainty and disappointing German industrial production data which suggested Europeâ€™s largest economy could potentially be sliding toward a recession.
Building on positive overseas momentum, US index futures have been pointing toward a positive open. Dow futures are up nearly 200 points as they look to build on Mondayâ€™s 98-point gain. Crude oil contracts are up another 1.4% as WTI and Brent continue their advance toward $50.00/bbl and $60.00/bbl respectively ahead of this afternoonâ€™s API weekly US oil inventory report.
Disclaimer:Â SIA Wealth Management Inc. (SIAWM) specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investor’s investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable.Â SIAWM nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.