Despite the horrific start on Monday, the bulls were decidedly in charge over the course of the last four days of last week, setting up a weekly gain of 5.1% for the S&P 500 (SPX) (SPY). The index is almost back to where it was before the Brexit vote shocked the world... for better or worse.
To that end, it's interesting (though not entirely surprising) that the rally started to slow on Friday. Perhaps it was just a small wave of profit-taking in front of a long weekend. Or, perhaps the market[...]