Market Notebook

by Cory Haupt | Aug 20, 2023

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

TECHNICAL ANALYSIS:
The continued slide in SPY price calls into question the status of the previous upward trend. SPY price appears to be established in a pull-back pattern. The longer-term upward trend is not necessarily invalidated but caution is likely prudent.

BND price remains in wide-ranging consolidation.

SENTIMENT:
Market participant sentiment might be considered negative as downward pressure on equities continues.

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!

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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.

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