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Past Performance is No Guarantee of Future Results

Past Performance is No Guarantee of Future Results

| May 14, 2018
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Stock market bulls got something to cheer about last week.  Heritage Capital President Paul Schatz noted that New York Stock Exchange’s advance/decline line set a new all-time high this week.  The indicator counts the number of stocks rising on a particular day and subtracts the number of stocks falling and plots the result over time.  “When the major stock market indices make new highs but the NYSE A/D Line does not, that’s where bulls should begin to worry,” Schatz writes, adding that “the exact opposite is now happening,” which he said was “typically a good sign for further strength in stocks over the medium-term.”   Still, he added the obligatory caution that past performance is no guarantee of future results.

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