Market Notebook

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

SPY    -2.54%
BND    -0.40%

TECHNICAL ANALYSIS:
SPY price retreated strongly from the prior week’s high. SPY price appears to be waffling between being in an upward trend and potentially entering a consolidation phase. It will take time for the pattern to work itself out. 

BND price appears to be consolidating within a wide price range.

SENTIMENT:
U.S. trade policy continues to be a dominant factor in price volatility.

ECONOMY AND FUNDAMENTALS:
Economic fundamentals remain positive, with data suggesting the U.S. economy remains resilient in the face of trade-related turbulence. Nonetheless, there are cracks in the data suggesting caution. The Conference Board’s Leading Economic Index declined sharply in April, suggesting an increased probability of a slowing of the real economy in the U.S.

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.