Weekly Recap

Despite what felt like a pretty bad week, the SPX squeaked out a positive week. And the major indexes are still in positive territory year-to-date.

Here is the weekly recap--

I still think this correction has a little more time to put in before the market is in good shape to rally. Many of the market leaders are trading well off their highs, and below the major moving averages. The SPX and Comp are also below their respective 50-days, signaling a neutral trend at best.

Bullish sentiment is beginning to wane, which is a start. Check back for a review of the sentiment indicators.