You saw a brief sign of demand coming into the equity markets last Friday with the S&P 500 gaining about 70 basis points in value. I say brief as the uncertainty in budget/debt ceiling debate in Washington is sending jitters through traders. Don't fret, the statist in Washington will come to deal at some point, probably in the zero hour, and the market will likely react in kind. However, that still does not provide any comfort in the hear and now.
As I stated above, the price/volume heat map pointed to a return in demand in Friday's trading. The overall price gains and demand increases were seen across the board. That said, I think the daily returns (and any previous and subsequent near-term gyrations) are just noise at this point with the continued 'uncertainty' flowing from Washington.
Despite the gains on Friday, the market ended the week gain slightly on mixed sector results.
This occurred while demand and supply appeared fairly balanced.
As I stated above, the price/volume heat map pointed to a return in demand in Friday's trading. The overall price gains and demand increases were seen across the board. That said, I think the daily returns (and any previous and subsequent near-term gyrations) are just noise at this point with the continued 'uncertainty' flowing from Washington.
Despite the gains on Friday, the market ended the week gain slightly on mixed sector results.
This occurred while demand and supply appeared fairly balanced.
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