Video Market Recap Friday, December 18, 2015 - SPY NYA TLT MUB UUP GLD GDX USO XES UNG FCG

Although the weekly losses for the S&P 500 ($SPX) was only 0.34%, the manner in which this loss occurred is indeed concerning if you are a stock bull. The past two weeks saw increased volatility in many asset classes due to the speeches by chairs of both the European Central Bank and the Federal Reserve. The initial reaction to Janet Yellen’s announcement of a ¼ percent interest rate rise was positive, but things completely fall apart by the end of the week. Chart of SPY now shows a confirmed Bearish Engulfing (Outside reversal) pattern. Friday’s close also put the ETF below its November low for the 2nd time this week.
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