Highlights from The Weekender
4% daily declines above the 200-DMA are rare, but haven’t been bearish sell signals.
Improved breadth is still being offset by defensive leadership and widening credit spreads.
The dollar is a top risk to watch this week.
Good morning,
Futures are solidly higher this morning, as modest overnight gains are getting a boost from further declines in oil prices before the open.
There are a million places we could start following last week’s wacky action, but let’s start there. For most US equity market dynamics, it’s easy to say the market saw it coming. Or was at least moving in that direction ahead of the election. Tech fell further; Thursday aside, most of the market did well.
Not so for oil, which was on the precipice of a major breakout before last week’s 13% decline. So does the election change the view for energy stocks?
