Chris Ciovacco

About the Author Chris Ciovacco

Chris Ciovacco is the founder and CEO of Ciovacco Capital Management (CCM), an independent money management firm serving individual investors nationwide. The thoroughly researched and backtested CCM Market Model answers these important questions: (1) How much should we allocate to risk assets?, (2) How much should we allocate to conservative assets?, (3) What are the most attractive risk assets?, and (4) What are the most attractive conservative assets? Chris is an expert in identifying the best ETFs from a wide variety of asset classes, including stocks, bonds, commodities, and precious metals. The CCM Market Model compares over 130 different ETFs to identify the most attractive risk-reward opportunities. Chris graduated summa cum laude from The Georgia Institute of Technology with a co-operative degree in Industrial and Systems Engineering. Prior to founding Ciovacco Capital Management in 1999, Mr. Ciovacco worked as a Financial Advisor for Morgan Stanley in Atlanta for five years earning a strong reputation for his independent research and high integrity. While at Georgia Tech, he gained valuable experience working as a co-op for IBM (1985-1990). During his time with Morgan Stanley, Chris received extensive training which included extended stays in NYC at the World Trade Center. His areas of expertise include technical analysis and market model development. CCM’s popular weekly technical analysis videos on YouTube have been viewed over 700,000 times. Chris’ years of experience and research led to the creation of the thoroughly backtested CCM Market Model, which serves as the foundation for the management of separate accounts for individuals and businesses.

Hard To Say This Is Bearish


Strongest Six Months In A Decade

It is difficult to imagine a new bear market starting when the economy is growing and the technicals are favorable. Tuesday’s GDP report showed the U.S. economy is coming off the strongest six months of growth in a decade. From Bloomberg:

Gross domestic product, the value of all goods and services produced, rose at a 3.9 percent annualized rate, up from an initial estimate of 3.5 percent, Commerce Department figures showed today in Washington. The median forecast of 81 economists surveyed by Bloomberg called for a 3.3 percent gain. After the 4.6 percent increase in the second quarter, it marked the biggest back-to-back advance since late 2003.

The Weight Of The Evidence

Outside of GDP, how does the bigger picture look? Things have happened fast over the past four weeks. This week’s stock market video takes a step back and looks at the new evidence that has surfaced in the stock market since the October 15 low.

After you click play, use the button in the lower-right corner of the video player to view in full-screen mode. Hit Esc to exit full-screen mode.

Given the still constructive environment for growth assets, we recently reduced exposure to bonds (NYSEARCA:IEF) and added (once again) to our equity stake (NYSEARCA:SPY). Even the strongest rallies experience red days from time-to-time, meaning we have to have realistic expectations in the short-run. However, it is possible the market is just digesting gains and ready for another push higher.

As always, the market and data will guide us if we are willing to wake up each day with a flexible, unbiased, and open mind.

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