In spite of a disappointing Friday Jobs report, equities were able to put in a holiday shortened Follow-Through-Week for +1.8% gain on the SPY (S&P500) during Week 27, for a +4.4% gain over a four week period.
With ten-month ranked leadership including the likes of Real Estate (IYR), Small Cap Growth (PXSG), and yes, Precious Metal (DBP), you’d never know that two weeks ago trader’s were staring at the prospective abyss of a nascent bear market.
With last week’s jobs report and Italy now on deck, can market’s maintain their mojo in the face of mixed earnings ahead? I’m skeptical, but we’re otherwise technically neutral with a slight bullish bent based on the long-term trend that remains in tact.
Source: Mrkt_Commentary subscription service; prior weekly posts.
