The stock market spent most of last week trying to decide what the weak June jobs report meant for the stock market and the economy. The strong action of the S&P 500 early in the week and the ability to close at 2119 last Wednesday did not appear to convince many market skeptics to change their tune.
There was little in the way of economic data to move the market last week but the sharp decline in global yields had many scratching their heads. A recent article by noted technical analyst Louise Yamada “Professionals Confused Over Stock Market” highlighted the quandary for investors.