S&P 500 remains in narrow trading range, showing market stability and base-building pattern
Strong equity allocation maintained across C, S, and I funds despite summer market lull
Potential market breakout expected after Labor Day as trading activity typically increases
Last week I talked about the S&P 500 “building a nice base”, and it did more of that this week as it closed Friday at 2169. Of particular note is that the S&P 500 has remained with a 1 percent plus or minus range (2190 to 2148) since 12 July. To reiterate last week’s closing comments, hopefully the markets will break out to the upside after it’s “summer vacation”, i.e. Labor Day weekend, and allocations remain the same with 95 percent in equity funds (C/S/I).
Last week I talked about the S&P 500 “building a nice base”, and it did more of that this week as it closed Friday at 2169. Of particular note is that the S&P 500 has remained with a 1 percent plus or minus range (2190 to 2148) since 12 July. To reiterate last week’s closing comments, hopefully the markets will break out to the upside after it’s “summer vacation”, i.e. Labor Day weekend, and allocations remain the same with 95 percent in equity funds (C/S/I).