Market Notes for 8/14-8/18
Recap of last week: The Market was mostly sideways for the week, with the technology sector showing weakness. Despite the impression of continuous decline through the week, SPY closed the week with a change of around 0.30%, which is quite remarkable. CPI gap up presented an opportunity for the bulls to drive the market upwards,as they had done several times this year. If the market held 4500 that would have opened up a nice rally this week to 4600. However, the market reversed downwards below 4500, raising a red flag.
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