Stock Market Analysis – 09-02-2008
September 2, 2008 at 9:14 pm · Filed Under Broader Market
When I left, the SPY was trading around 128. Upon my triumphant return, the SPY has moved a whole 40 cents lower… Looks like I just missed a lot of consolidation. Hurricane Gustav ended up being less destructive than predicted, so oil settled back into its declining channel today. Other than that, nothing much changed fundamentally. Labor Day marks the unofficial end of the summer, so the markets should pick up a little bit heading into the fall. Get ready for an exciting final quarter.
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