<!-- wp:post-title /-->

<!-- wp:heading {"textColor":"maroon"} -->
<h2 class="has-maroon-color has-text-color">Friday, November 12, 2021</h2>
<!-- /wp:heading -->

<!-- wp:paragraph -->
<p>Equities cooled off this week alongside hotter-than-expected inflation. Even so, the S&amp;P 500 is near all-time highs and valuations remain exceedingly expensive, as the S&amp;P 500 Price/Sales ratio has reached a record high.</p>
<!-- /wp:paragraph -->

<!-- wp:paragraph -->
<p>This week’s economic reports focused on surging prices and its effects. The Core Consumer Price Index, which excludes volatile food and energy prices, soared to another 30-year high of 4.6%, as price increases broadened out across the economy in October. These widespread inflationary pressures are hampering optimism, as both Consumer Sentiment and NFIB Small Business Optimism dropped in their latest readings.</p>
<!-- /wp:paragraph -->

<!-- wp:paragraph -->
<p>Looking at our technical indicators, the InvesTech Canary (in the coal mine) Index is continuing to hold above its critical support levels thanks to yet another wave of retail investor speculation.</p>
<!-- /wp:paragraph -->

<!-- wp:paragraph -->
<p>There are no changes to the Model Fund Portfolio this week, which remains 74% invested with a moderately defensive 26% cash buffer.</p>
<!-- /wp:paragraph -->

<!-- wp:heading {"level":3} -->
<h3>The next Weekly Hotline update will be next Friday after 12:30 PM ET</h3>
<!-- /wp:heading -->

<!-- wp:separator -->
<hr class="wp-block-separator has-alpha-channel-opacity"/>
<!-- /wp:separator -->

<!-- wp:heading -->
<h2>This Week's Market Insights</h2>
<!-- /wp:heading -->

<!-- wp:columns -->
<div class="wp-block-columns"><!-- wp:column -->
<div class="wp-block-column"></div>
<!-- /wp:column -->

<!-- wp:column -->
<div class="wp-block-column"></div>
<!-- /wp:column -->

<!-- wp:column -->
<div class="wp-block-column"></div>
<!-- /wp:column --></div>
<!-- /wp:columns -->