I think that's what the technicians would call current state of market.
SPY down 1.4% for week, down 3% for August, and down 4.1% from all time high of August 2nd.
It's back under 50-day average.
While the summer started out nice, from Memorial Day to Labor Day, SPY has delivered less than zero, or -0.4%.
Two more distributions days this week. So, after an extended period without distributions, we've now had five since mid August.
A couple weeks ago, it seemed to be all about Fed instability. Now, it's instability in Syria that's increasing tensions all around, adversely affecting markets and more.
Volume remains summer light, if that helps.
Bonds not doing much better.
OK week, but Friday AGG had another drop on heavy volume.
AGG remains down 4.1% since May Day, and still below both 50 and 200 day averages.
Comments
Thanks for the update.
1630 looks like the short term line in the sand.
7-10 year treasury price
This is daily pricing, which looks a bit more hectic; versus weekly pricing. You may change to weekly price charting with changing the dropdown near the top and left of the chart, just to the right of the ticker IEF. Then click the update icon nearby.
Not that folks are going to run to Treasury issues today for protection from the equity markets; but this area has had no reaction in particular to the "war games" circumstance.
May not mean a thing, eh?
Take care,
Catch