The S&P 500 closed out Friday's trading just about flat on the day. Utilities were the largest gainers, but contributed little to the overall gain considering the paltry 3% weighting in the index.
Reflecting the overall price performance, the demand outlook was tepid at best. Utilities, as shown in the price/volume heat map below, experienced the best overall demand levels, but the rest of the market showed more neutral results overall. These results are not what you would like to see a few days into a rally attempt.
Trading Week ending 9/6
For the week, the S&P 500 gained 140 basis in value, retracing a portion of 50 point loss from the 1,700 level.
The price/volume heat map for week reflected the price performance seen above. Stronger demand was seen in all sectors except for telecom and utilities, with the latter two taking it on the chin on price.
Reflecting the overall price performance, the demand outlook was tepid at best. Utilities, as shown in the price/volume heat map below, experienced the best overall demand levels, but the rest of the market showed more neutral results overall. These results are not what you would like to see a few days into a rally attempt.
Trading Week ending 9/6
For the week, the S&P 500 gained 140 basis in value, retracing a portion of 50 point loss from the 1,700 level.
The price/volume heat map for week reflected the price performance seen above. Stronger demand was seen in all sectors except for telecom and utilities, with the latter two taking it on the chin on price.
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