Markets are experiencing a relief rally as sellers have ruled the day for the past 7 weeks. Equities have been over-sold for quite some time, but the fundamentals at this point do not support a lengthy move higher.
Equities tried to make some progress early in the week, but finished lower overall for the week.
Equities had a rough week last week in spite of a Friday rally. Overall, most indices were down 1% or greater for the week.
Equities sold off on Friday of last week as some headline companies disappointed on 1st quarter earnings.
Equities were under pressure late in the week as the multiple Fed governors floated a more aggressive stance toward rate hikes.
Equities were somewhat mixed last week, as investors rotated away from expensive growth stocks.