Week In Review (6/1 - 6/5)

The week ending June 5th saw the S&P 500 finish down -0.70% and the Nasdaq flat while the Russell 2000 was up more than 1%.  Friday's upside surprise in the monthly in the employment report did little to move the market in either direction as the big cap indexes finished the day largely unchanged.  However, the week as a whole certainly had a more volatile feel than what we've seen recently.  Another round of Greece concerns and some strong currency and interest rate moves bore primary responsibility for this.

On a year to date basis, the S&P 500 has once again slipped back into its drawn out range after attempting an upside breakout over the last few weeks.





The Nasdaq and Russell 2000 have asserted themselves as the clear domestic stock market leaders through the year's first 5+ months.

As mentioned above, the pullback in stocks last week was due in part by the recent volatility of the bond market as the 10-year has fallen below its 200-day moving average and is testing major support on the longer term weekly chart.