Only Foreplay

Yet another pathetic decline.

For the week, the S&P 500 dropped -1%, the Dow declined -0.9% and the Nasdaq fell -0.8%. Given how far we've come since summer, it would be an insult to your intelligence to even hint that this was a correction.

While the soft-landing perception is starting to come under attack by reports of a slowing economy and upticks in inflation (notwithstanding Fedspeak to the contrary), the market is holding firm I think primarily due to those who always buy when the market is performing well. Of course, we know that isn't the smartest approach, but you can almost set your watch to it nevertheless.

All in all, I suspect that this week's action is only a little foreplay ahead of next week's mid-term election. So, enjoy the links I've shared below, get some much-needed rest over the next couple of days, and I'll see you before the opening bell on Monday.