"Last Week in the Markets..." is an examination of the week that was in the financial markets, in an effort to help assess the prospects for the week(s) that will be.
Stocks drifted lower last week, despite the help the market usually receives from an options expiration. In the process of somewhat lower prices, the market lost more of the momentum that took the bellwether averages to their recent highs, occurring during the first week of August. Is what is beginning to evolve a portent of the serious pullback (or worse) that is very likely on the way, perhaps already in progress?
Continue to Gillespie Research for the balance of the essay: http://www.gillespieresearch.com/cgi-bin/s/article/id=636