The Scales are unchanged this month, continuing to tip toward risk and away from opportunity.
A strong finish to November has renewed hopes that the 2022 bear market is moving from present reality to past experience. The weight of the evidence argues against jumping to that conclusion just yet. Simply put, we have not seen enough market strength to justify looking past the still present macro concerns. The evidence remains cautious and so do we.
Our Weight of the Evidence Dashboard fills in the details and includes a few charts that have our attention heading into December.
