Going Nowhere

2026-06-29 15:44:00 ET

The S&P 500 ( SPX ) is kicking off the week with a gain of over 1% as of midday Monday. In multiple ways, it has been a sharp turnaround from last week. For starters, last week saw the S&P 500 fall on all five trading days, with the last three sessions having remarkably small moves. As shown below, the index was basically flat from Wednesday to Friday, as each day didn't even see a move greater than 10 bps. Additionally, we would note that despite the five-day losing streak, it wasn't exactly all doom and gloom as the index also had positive breadth on each of the five days....

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