Rutherford Portfolio Review (Tranche 2): 5 July 2024 | ITA Wealth Management – The Global Tofay

Rutherford Portfolio Review (Tranche 2): 5 July 2024 | ITA Wealth Management - The Global Tofay Global Today

Double Rainbow (2nd image to right of primary rainbow)

Another bullish week in US Equity markets and another week with new all-time highs – the momentum continues:

Rutherford Portfolio Review (Tranche 2): 5 July 2024 2We finally broke through the ~5500 level in the SPX (S&P 5oo Index) that also corresponded to a ~50% extension of the prior (Nov 2023 – April 2024) bullish move from the lows of the mid-April pullback. It is always difficult to predict/project where trends might end but the next possible area of resistance might be at the 61.8% extension level or ~5670.

Despite this continued strength in US equities other major asset classes showed stronger performance over the past week:

Rutherford Portfolio Review (Tranche 2): 5 July 2024 3with VTI falling in the lower half of the list.

Current holdings in the Rutherford portfolio look like this:

Rutherford Portfolio Review (Tranche 2): 5 July 2024 4with recent performance:

Rutherford Portfolio Review (Tranche 2): 5 July 2024 5showing the portfolio slowly catching up to the benchmark AOR Fund.

Tranche 2 (the focus of this week’s review) is holding positions in VEA (Developed Market equities), VNQ (US Real Estate), PCY (Emerging Market Bonds) and the benchmark AOR Fund in addition to a ~10% allocation to the inverse volatility SVXY ETF. Checking the rotation graphs:

Rutherford Portfolio Review (Tranche 2): 5 July 2024 6VTI remains the strongest looking performer (positive movement in the desirable top right quadrant) – so it is not surprising to see the following rankings and recommendations when looking for possible adjustments:

Rutherford Portfolio Review (Tranche 2): 5 July 2024 7VTI shows as a recommended Buy with VEA, PCY and AOR as holds. VNQ gets a Sell recommendation as a result of weaker relative strength.

Accordingly, this week’s adjustments will look something like this:

Rutherford Portfolio Review (Tranche 2): 5 July 2024 8where I shall be selling holdings in VNQ and using the funds to buy shares in VTI. I will not bother to make minor adjustments to other holdings.

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