LAST WEEK: U.S. equities finished mostly lower on the week with many saying the pullback was simply consolidation following gains over the prior two weeks. The S&P finished down 1.32% while the Dow and Nasdaq closed -1.23% and -.18% respectively. Defensive sectors such as REITs and Utilities underperformed broader markets over the five days, while…
LAST WEEK: U.S. equities rallied sharply over the four-day holiday week, led by some of the most beaten down and shorted names. The Goldman Sachs most shorted basket of stocks closed up 25% while the S&P 500 surged 12%, its largest weekly advance since 1974. The Dow gained 13%, and the Nasdaq 11% respectively, as…
LAST WEEK: U.S. equities retreated over the course of the week as the S&P ended down ~2%, Dow Jones 2.65%, and the Nasdaq 1.68%. Markets were led lower by defensive sectors with Utilities, Financials, and REITs coming under the most pressure. Unusual suspects such as Energy, Consumer Staples, and Healthcare bucked broader selling pressures to…