This week has been really slow.
The economic data calendar has been thin after a busy week last week, and it’s the first week of August, so we’ve been hearing a lot of anecdotal reports of low market liquidity while everyone is away on vacation.
The stock market fell on Monday, Tuesday, and Wednesday before finally closing in the green on Thursday.
However, today stocks are falling again.
Right now, the S&P 500 is trading down 0.5% from yesterday’s close, right around 1688.
The decline today is especially interesting in light of the fact that stock exchanges across Asia and Europe rose on Friday, and no clear catalyst for the sell-off in North American trading has really presented itself.
The chart below shows the S&P 500.