Market Notebook

PRICE ACTION:
Equity prices, as measured by ticker SPY, closed lower on the week, while bond prices, as measured by ticker BND, closed marginally higher, if not essentially flat.

TECHNICAL ANALYSIS:
SPY price appears established in an upward trend.

BND price appears established in range-bound consolidation as prices have moved sideways for an extended period.

SENTIMENT:
Last week’s pullback in equity prices amounted to a healthy retracement in an upward-trending market. Nothing goes straight up forever, and pullbacks in price are expected if not welcome.

Bond sentiment remains mixed as price continues to move sideways.

ECONOMY AND FUNDAMENTALS:
Economic indicators within the Market Notebook remain mixed. Real economic activity will likely slow over the next few months as the Federal Reserve works to contain inflationary pressures.

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.