Market Notebook
Discussion –
PRICE ACTION:
Equity prices, as measured by ticker SPY, and bond prices, as measured by ticker BND, closed lower on the week.
TECHNICAL ANALYSIS:
SPY price action suggests that equities may be in consolidation.
BND price action suggests wide-ranging consolidation with recent tendencies toward a downward trend. A retest of the October 2022 lows appears to be in progress. A breach of the October 2022 lows would be bearish for bonds.
SENTIMENT:
Market participant sentiment suggests pessimism. The Federal Reserve’s action in holding rates steady and communicating that rates may remain static for longer appears to concern investors.
ECONOMY AND FUNDAMENTALS:
Economic indicators within the Market Notebook remain mixed.
Jobless claims are to be watched as an important indicator of a potential recession. Thus far, jobless claims are not indicative of a near-term 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.