The week’s nascent recovery fell flat on its face on an awful jobs report and suit of 17 banks by the FHFA, leaving the S&P 500 (SPY) down -1.9%. While stocks are in early oversold stages, it will be important for the recent upward channel defined by the SPY $116 to 116.50 range to hold in the days ahead.
Source: Mrkt_Commentary subscription service; prior weekly posts.
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