We have a huge economic calendar and the first of three scheduled Presidential debates. The employment report will be the last one before the election, so I expect it to get special attention. Most of the other important economic data will also be reported during the week.

The data provide an opportunity for investors to assess what they can reasonably conclude about the state of the economy and investment prospects. We should all be asking,

What do we know ……and when did we know it?

Last Week Recap

In my last installment of WTWA, I emphasized the investor need for evidence on key elements of the economy. I also noted that this attention to data might well be overtaken by politics and the Supreme Court vacancy.

I was half right.

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 large range of Friday trading.

Chart

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The market declined 0.6% on the week. Despite the choppy look of the chart, the trading range was only 3.5%. I provide regular updates of historical and expected volatility in my Indicator Snapshot (below).

The weekly sector chart shows the sources of the action.

Some readers asked whether we could do this chart in a longer time frame. Here is one for twice the length of time, 26 weeks. Let me know which you prefer or whether I should alternate.