Equity markets slogged ever higher with the S&P 500 (SPY) up another +0.6% after some brief bouts of volatility. Speaking of which, the VIX tagged an incredible 16 handle during the course of the week.
However, select indices such as Energy (XLE) and Technology are pushing into short-term overbought status. That in itself is not as potentially concerning as is the divergence among the small-caps, where the Russell 2000 (IWM) actually posted a slight loss for the week of -0.2%. The fall of the U.S. dollar (UUP) likely played a role here, since a falling dollar benefits large-caps with overseas operations.
[Week 9 Calendars: Economic | Reporting]
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