Outlook for the week of August 15, 2011
The S&P 500 cash index (SPX) closed at 1178.81, down 20.57 points or about 1.7% — a smaller loss than the previous week.
Last week the stock market had its most volatile action since 2008. Traders around the world felt the reaction from downgrade uf U.S. Debt and the and Fed’s language on extending the period of low interest rates.
This week is option expiration week. We may continue seeing some price action moves, but it won’t be the same as the dramatic gains and stomach-churning losses of last week.
SPX Weekly chart
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