Results W5: good predictions, jumpy markets
Quick summary:
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Another week with good accuracy and precision
However, markets were so jumpy it was difficult to keep the profits. We ended up with a negative -1.8%
Final earnings week, with retailers left, plus some updates on housing data
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It’s still congested up front on the leaderboard. Still jumps all over the place, just like the market! :)
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Last week’s performance
Last week was not much movement on Mon and Tue, but then volatility started on Wednesday. A strong up move on the open (+0.8%) from SPX following a better than expected CPI report, only to drop significantly after the open, and then bounce back before the end of the day. Similar price action on Thursday, followed by a more gradual decline on Friday, with the final hours bringing SPX back to almost exactly where we predicted it will end up (4,124 versus 4,126).
Our predictions were therefore spot on, but due to the way they got there it was difficult even for our improved strategy to secure profits last week.
More earnings to come this week, mostly from retailers, in addition to housing data. Other than that not much is expected. Might be a quite week, but you never know!
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