The S&P 500 gave back a portion of the 5% gain in the previous two weeks on concerns of weaker foreign economic growth. Via Nova wishes everyone a happy and safe Thanksgiving!
Via Nova expects rancor to rule following the midterm elections. The completion of the midterm elections combined with continued strong earnings reports and steady Federal Reserve policy helped lift the S&P 500 for a second consecutive week.
The S&P 500 finished flat for the week, finding support at the technically important 200-day moving average level. Higher interest rates appear to be slowing the housing market.
