August 10, 2015
Weekly Market Outlook
By Keith Schneider
After a stellar performance in the prior week, US equities gave up its gains yet again putting the S&P 500 up about a 1% YTD, with the Dow Industrials down about 2%. If Trump was writing this column, he might say the markets are continuing to act hormonally. The beleaguered Dow Industrials was hammered, now down 7 days in a row, its worst performance since 2011. The best performing equity index globally, the NASDQ 100 is up about 6 % YTD but breath continues to get narrower, as even the leading stocks could not sustain or make new headway. US bond prices continued its rally to its 200 day moving average even though the Fed seems intent on raising rates. With volatility is sitting at low levels , (not unexpected with sustained sideways action) the market seems vulnerable during what is historically one of the weaker months. So, with things still in status quo summer mode, let’s go to this week’s video and see where the key chart points are right now.
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