Stocks lost ground against bonds and gold.
S&P 500 rejected the important resistance range of 2800-2820.
The VIX bounced over 18% as volatility came back into the equities markets.
Small caps were the worst performers from a factor perspective.
Low volatility was the best performing factor.
Bonds, Gold, and the US dollar had strong weeks.
Growth continues to slow in the US as the ECRI Weekly Leading index is down -3.7% year over year.
Housing is starting to show some positive signs of life.
Defensive positioning is still warranted.
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