Client message ETF portfolio

Eurofuture Client Message ETF Portfolio September 17, 2022

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Dear ETF Portfolio Participants,

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Last week the markets showed a nice recovery and the conclusion of the analysis for this week is. They are weak charts but they have definitely improved a bit over the past week. They are moderate charts but we should expect a positive week."

Consequently, on Monday the AEX continued to rise 10 points. Also on Tuesday it went nicely higher, up to the resistance at 703. Then Tuesday afternoon everything went wrong. The inflation figure for the US rose again. Consequence: people fear further (steep) interest rate hikes which is bad for equities and creates new fears of recession. The DOW lost 4% and the Nasdaq 5% on Tuesday. These are substantial losses. The AEX dipped from 703 to 684.

We had only three modest positions in charts that looked good attachments. We could have a maximum of 10 positions. But, as always this year, our positions also took a hit. It is not a happy year and that is putting it mildly.

The AEX is now at almost -17% this year. That's pretty bad. Our portfolio is now posting a plus of 1%. Fantastically better than the AEX but certainly not what I had in mind for you.

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Kind regards,

Franciscus Roorda