The market was on pace to a decent gain last week.... until Friday. With that day's stumble, an intraweek gain of 1.0% turned into a 0.14% loss for the five-day span. Worse, the shape and location of last week's intraweek reversal hints that the tide may have finally turned bearish.
Of course, in this market, such hints don't necessarily mean a lot.
We'll dissect it all below as usual, after painting with some broad brush strokes of economic data.
As was noted a week ago, there[...]