BOTTOM LINE: Overall, last week's market performance was very positive. Gains were especially impressive considering the London bombings and steep increase in energy prices ahead of Hurricane Dennis. The advance/decline line rose, almost every sector gained and volume was below average on the week. Measures of investor anxiety were mixed. The AAII % Bulls fell again and is now slightly below average levels. Mortgage rates rose and are now 41 basis points away from all-time lows set in June 2003. The benchmark 10-year T-note yield also rose as economic reports painted a mostly healthy picture of the state of the US economy. Small-caps, especially Cyclicals and Tech, were beneficiaries of these strong reports as well as another break out in the US dollar.
*5-day % Change
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