We have a light economic calendar with important data on home sales, jobless claims, and durable goods orders. None of these is likely to stimulate higher heartbeats.

I expect politics and the election to get plenty of attention in the financial media, especially with an open Supreme Court seat as a new issue.

These are important long-term issues, but the answers (which no one knows anyway) shed little light on key questions we all face right now.

Investors need an evidenced-based assessment of the economic rebound.

And then they need to ask if their portfolios are aligned with the answer.

Last Week Recap

In my last installment of WTWA, I took note of market declines and considered whether this might be the “start of something big.” We still do not know, but it is worth paying attention to the most important indicators.

The Story in One Chart

I always start my personal review of the week by looking at a great chart. This week I am featuring Jill Mislinski’s version of the prior week. The callouts also show the range of Friday trading.

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The solid start to the week deteriorated beginning Wednesday afternoon. This coincided with Fed Chairman Powell’s press conference, viewed by many as the cause.

The market declined 0.7% on the week. Despite the choppy look of the chart, the trading range was only 3.0%. I provide regular updates of historical and expected volatility in the Indicator Snapshot (below).

A second chart from Jill helps to maintain our perspective on the current drawdown.

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