Market Notebook

PRICE ACTION:
Equity prices, as measured by ticker SPY, and bond prices, as measured by ticker BND, closed sharply lower on the week.

TECHNICAL ANALYSIS:
SPY price appears established in an upward trend. Although SPY price retreated last week, the trend looks well-established and healthy on a daily chart from a technical perspective.

BND price action last week was significant, breaking lower out of consolidation.

SENTIMENT:
Last week’s sentiment appeared correlated to the idea that inflation is not yet tamed and interest rates may stay “higher” for “longer.” This idea seemed to move both equity and bond prices.

ECONOMY AND FUNDAMENTALS:
Economic indicators within the Market Notebook remain mixed.

Jobless claims are to be watched as a key indicator of a potential recession. Thus far, jobless claims are not indicative of a recession.

All the best during the week ahead!

Disclaimer: Nothing in this discussion should be considered investment advice. The content of this discussion is strictly my personal opinion and subject to change at a moment’s notice. Investment advice can only be provided to you by your investment professional and not by a general market discussion such as this one. If you wish to speak with an investment advisor, contact us. We can probably help.