Although the week offered a mixed performance on behalf of the majors, the broad S&P 500 (SPY) ultimately finished lower yet again by -0.3%. Normally I’d look for change of month buying coming into the markets early next week (especially with the VIX so bullishly stretched and given the end-of-month sell), but the fourth challenge of recent range support certainly provides a large overhang on that outlook and weekend news flow has hardly been supportive.
[Week 40 Economic Calendar]
[Monthly & Quarterly Summary]
Source: Mrkt_Commentary subscription service; prior weekly posts.
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