The market’s third attempt at its 200-day moving average was rejected on the “event risk” that just won’t quit — European sovereign debt rates plus our very own deficit negotiations saga. The S&P 500 (SPY) finished the week down -3.7%, but isn’t quite in official oversold territory. At what point will the current “event risk” be relabeled “systemic” Holiday seasonality should save the day next week, but where we go thereafter may well define the answer.
[Week 47 Calendars: Economic | Reporting]
Source: Mrkt_Commentary subscription service; prior weekly posts.
NEVER INVESTMENT ADVICE
