Key Takeaways
- Market sentiment has not shown any signs of capitulation yet.
- Ingredients for an important low are still missing.
- Thus, expect further selling pressure ahead.
Market Review |
In line with our strategic outlook, U.S. stocks finished a tough week with losses. The Dow Jones Industrial Average declined 1.9% over the week to 33,963.84. The S&P 500 retreated 2.9% for the week to finish at 4,320.06. The Nasdaq posted a 3.6% loss for the week and finished at 13,211.81. The S&P and the Nasdaq recorded their third straight negative week and worst weekly performance since March. All key S&P sectors ended in negative territory for the week, led by the discretionary sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, advanced to 17.2. Read MoreYou are currently viewing a placeholder content from X. To access the actual content, click the button below. Please note that doing so will share data with third-party providers.
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