It was a rough week to own stocks as the Nasdaq 100 dragged down the broader US equity market. While the failure to introduce a new bill to continue easing fiscal policy has been ignored by markets for the most part, the breakdown of upward momentum coupled with that policy flop clouds the outlook…even as the economy is improving and the spread of COVID also eases. Broken moving averages and weak technical set-ups don’t mean markets are poised to crash, but the backdrop has gotten worse over the past week. We discuss all these items in detail along with economic data in the US and around the world, low rates in the US, and how the COVID pandemic has impacted Americans in this week’s Bespoke Report.
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