A confluence of familial and meteorological factors left me in rural
First, from a strict numbers perspective, important support was breached in several of the major indices last week and the put to call numbers were at extreme levels all week. In contrast to the put to call data, the volatility indices were sluggish and unremarkable during the week, with the VIX finishing the week up 0.95 (3.6%) to 27.49 and the VWSI rising to +1.
As the Wall Street Journal ‘Hot or Not’ chart shows, oil was just about the only winning play last week, while the smaller (market cap) and more far flung one’s equity positions were, the worse they performed.
Four top bloggers do an excellent job of summarizing the action on a number of fronts:
Barry Ritholtz at The Big Picture is back with his Linkfest, where he surveys a wide variety of facts and opinions, with an emphasis on macroeconomic and fundamental news. Babak at Trader’s Narrative provides his Sentiment Overview for the week. Declan Fallond (Fallond Stock Picks) offers up a review of last week through the eyes of some of the StockCharts.com chart reader cognoscenti – along with his own commentary. Last but not least by a long shot, Bill Cara has his usual exhaustive inventory of charts and commentary for the week – ideal for those who wish to slice and dice the markets by sector, region and asset class.
Finally, I cannot end here without recommending an inexpensive red blend that I tried last night: a $6.99 (at Trader Joe’s) Novella Synergy from EOS Winery in Paso Robles,