As you can see by our traffic signal, our market is currently Yellow.
With the markets closed tomorrow (Monday) for the 4th of July holiday, let's look back on the week's market action.
Monday, Jun 27th - our Green market traded within a narrow band and ended the day down slightly (S&P: -0.3%)
Tuesday, Jun 28th - More bad news on the inflation front. The markets reacted with a large drop (S&P: -2.0%). The large drop was enough to reclassify the markets to Yellow after the close.
Wednesday, Jun 29th - . The Yellow market traded within a narrow band and by the close the S&P was down just -0.07%.
Thursday, Jun 30th - The markets dove early and were down almost 2% on the S&P. The good news was that they recovered and ended the day just down 0.88%. This strong recovery and finish likely saved the markets from reclassifying to Red.
Friday Jul 1st - After an early dip, the markets rallied strongly, with the S&P ending the day +1.1%.
That's it for now. Hopefully, my next alert email will be positive and not instructing a market exit.
Please stay tuned.