V2 Model August 26 2023 Update

Will A Bullish Divergence Lead Us Long Into Labor Day?

August 26, 2023

Recap

It was a generally good week for the mega-cap names and a relatively lackluster week for the broader market. To wit: the market-cap weighted S&P 500 rose 0.8% this week while the Invesco S&P 500 Equal-Weight ETF (RSP) posted a fractional loss. The Russell 2000 was down 0.3% for the week and the S&P Midcap 400 Index was flat. The Nasdaq Composite gained 2.3% and the Dow Jones Industrial Average declined 0.4%. With their gains this week, the S&P 500 and Nasdaq Composite broke a three-week skid.

V2 was down this week.

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