Market Notebook

by Cory Haupt | Sep 19, 2021

Global equities, including the S&P 500, remained under pressure last week while the bond complex generally, remained in consolidation. The S&P 500, as expressed by the ticker SPY, closed below the 50-day moving average. Going back to November 2020, closes below the 50-day moving average have been buying opportunities in the SPY. In this case, use caution in adding to equity positions. As mentioned last week, several factors appear to be conspiring to potentially keep the S&P 500 under pressure through the end of the quarter. It may be wise to make your instruments prove they can close and hold above key moving averages before buying. Also, consider rebalancing to capture outsize winners in case the downward pressure in equities continues.

All the best in the week ahead.

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