Another week that wasn’t?
The last bar on this weekly chart just about sums it up:
Or does it? While the markets barely moved on a weekly basis once again, there sure was a lot of action for the action junkies this week. A nice big fake-out to the upside on Tuesday, and then more or less a continual slide (except for Thursday afternoon) after the fed meeting-cum-news conference.
I find paying attention week-by-week instead of incessantly and obsessively tracking every tick to be beneficial. It helps you get right to the heart of the market; we haven’t really moved much at all for three straight weeks.
The market’s getting a little more worried though; VIX drifted up over 21 again today and closed the week at 21.10.
Enjoy the weekend!
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