For the last several weeks we had been hypothesizing a pullback, and here it is. For the week, the S&P 500 (SPY) fell back another -1.9%. However, the VIX is increasingly stretched from its mean, which may better support a bounce in the week ahead even though price is not yet fully oversold.
[Week 16 Calendars: Economic | Reporting]
Source: Mrkt_Commentary** subscription service; prior weekly posts.
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