June 2024 Update

 

Money is tool. You use it to enhance the two most important things in your life:

Your Relationships & Your Well Being

Planning Tip!

If you haven't checked on your cell phone plan for a long time, there is a good chance you can get a better plan for a better price! Give your provider a call and ask if there is something better - because they won't call you! Stephen did this, and they tripled his allowance data AND cut the cost to his bill!

 

And speaking of cuts...

 

BANK OF CANADA CUTS KEY INTEREST RATE FOR THE FIRST TIME IN FOUR YEARS TO 4.75%

And here's something we think you'll really like!

Our website is undergoing a few minor upgrades - in the form of videos! Check out our Home Page for the first of many videos to come! 

We are also taking new clients! 

If you have friends, family or colleagues who are fed up with their current advisor, have market worries or worries about their financial future, we'd love to speak with them! With no commitments or strings attached, we can take a look at their current wealth portfolio and see if there are ways we can help them achieve their dreams!

Our Portfolio

**We've been a little busy over the last two months, but a new podcast episode is on the way! Stay tuned, and check out our Podcast Page for past episodes! Remember to share them with your friends, colleagues, and family members!**

Transactions:

No trades were conducted in the accounts this month. The markets rebounded after April's poor performance to hit a new high and close near the April high.

As of May 31, 2024, we were around 9% in cash, 18% in bonds and 73% in equity.

 

Returns on our 60/40, 70/30 & 80/20 portfolios - before fees:

Interesting Charts

Technical Comments

https://www.brookstradingcourse.com/price-action-trading-blog/

• The May monthly S&P 500 candlestick was a bull bar with a small tail above closing in its upper half.

• Last month, we said that there may be buyers below the first pullback from such a strong bull microchannel (perhaps holding the market up in the first half of May).

• The market made a new all-time but closed below the March 21 high.

• The bulls got a strong rally starting in October in the form of a 6-bar bull microchannel.

• Sometimes, there may be buyers below the first pullback following such a strong bull microchannel. It was the case in May.

• They hope that the market has entered a broad bull channel phase.

• They hope to get another strong leg up completing the wedge pattern with the first two legs being July 27 and March 21.

• If there is a pullback, the bulls want it to be sideways and shallow (filled with weak bear bars, bull bars, doji(s) and overlapping candlesticks).

• They want the pullback to form a higher low and the 20-month EMA or the bull trend line to act as support.

• The Bears want a failed breakout above the all-time high.

• They want a reversal from a higher high major trend reversal and a large wedge pattern (Dec 2, July 27, and March 21).

• They see the last 3 sideways candlesticks as forming a possible final flag of an extended rally.

• They hope to get another leg down forming the second leg sideways to down with the first leg being April.

• Since May was a bull bar closing in its upper half, it is a buy signal bar for June. It is not a strong sell signal bar.

• The rally has lasted a long time and is slightly climactic. April was the first sign of a possible pullback phase.

• However, the lack of follow-through selling (in May) indicates that the bears are not yet strong.

• Odds slightly favor the market to trade at least a little higher.

• Traders will see if the bulls can create another breakout into new all-time high territory in June.

• Or will the market trade slightly higher but stall around the current all-time high area?

 

Millennial Minute

Ashley is busy in her garden – trying to learn how to grow her own food. It’s been a lot of trial and error, and she’ll be back next month to tell you all about it AND how to budget for it!

Planning

The Pros and Cons of Owning Property: Joint tenants with right of survivorship

This article addresses some of the issues with transferring your assets to joint ownership with your kids.

 

Click here to read!

 

Check out our Holistic One Client Experience chart! Are there slices of the pie we might be able to help you with?

                           

 

disclaimer:

The opinions, estimates and projections contained herein are those of the author as of the date hereof and are subject to change without notice and may not reflect those of BMO Nesbitt Burns Inc. (\"BMO NBI\"). Every effort has been made to ensure that the contents have been compiled or derived from sources believed to be reliable and contain information and opinions that are accurate and complete. Information may be available to BMO NBI or its affiliates that is not reflected herein. However, neither the author nor BMO NBI makes any representation or warranty, express or implied, in respect thereof, takes any responsibility for any errors or omissions which may be contained herein or accepts any liability whatsoever for any loss arising from any use of or reliance on this report or its contents. This report is not to be construed as an offer to sell or a solicitation for or an offer to buy any securities. BMO NBI, its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities mentioned herein as principal or agent. BMO NBI -will buy from or sell to customers securities of issuers mentioned herein on a principal basis. BMO NBI, its affiliates, officers, directors or employees may have a long or short position in the securities discussed herein, related securities or in options, futures or other derivative instruments based thereon. BMO NBI or its affiliates may act as financial advisor and/or underwriter for the issuers mentioned herein and may receive remuneration for same. A significant lending relationship may exist between Bank of Montreal, or its affiliates, and certain of the issuers mentioned herein. BMO NBI is a wholly owned subsidiary of Bank of Montreal. Any U.S. person wishing to effect transactions in any security discussed herein should do so through BMO Nesbitt Burns Corp. Member-Canadian Investor Protection Fund.