Market Notebook

PRICE ACTION:
Equity prices, as measured by the ticker SPY, traded lower, while bond prices, as measured by the ticker BND, closed unchanged during the last week.

SPY    -1.48%
BND    +0.00%

TECHNICAL ANALYSIS:
SPY price appears to have established a consolidation pattern after experiencing short-term weakness within a medium-term upward trend. Such consolidation bears watching as a break higher out of consolidation could signal the resumption of the upward trend, while a break lower could signal more short-term weakness to come. Specifically, a break below the March 13th close could be the catalyst for additional selling.

BND price appears to be consolidating, with price near the high end of the recent range.

SENTIMENT:
Market sentiment waned last week as measures of consumer confidence sagged to historically low levels. U.S. trade policy continues to be a source of uncertainty for investors.

ECONOMY AND FUNDAMENTALS:
Economic fundamentals remain positive, with measures of confidence under stress.

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.