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Market Retreats on Lower Volume

The S&P 500 declined -3.37% on Friday.  After a +17% rally from the index’s low point in June, through mid-August, volatility reared its ugly head and brought the total number of outlier days (a trading day beyond +/-1.5%) in 2022 to 52, out of 164 trading days. 

What do Markets and Weather have in Common?

Markets retreated Friday, following a touch of the 200-day moving average a few days prior.

The Markets are Never Wrong Because They Reflect Reality

Last week, Canterbury’s update focused on “what we know about the markets right now.”

What We Know About the Markets Right Now

After putting in a low in June, markets rallied in the month of the July.