Equities put in a strong bounce back rally that left the S&P 500 (SPY) higher by +3.9% on the week, even though it remains down -2.1% over a four week period.
For the week ahead, many sectors are beginning to look short-term overbought within the intermediate down-trend. Of course it’s all about the news cycle right now — in addition to on-going speculation over Europe, we have a heavy economic reporting calendar back home.
[Week 24 Calendars: Economic | Reporting]
Source: Mrkt_Commentary** subscription service; prior weekly posts.
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