The Week Ahead: A Summer Swoon or a Buying Opportunity?

It was a disappointing week for the stock market as the severity of last Tuesday's sharp drop set the tone for the whole week. The market quickly became oversold, so Wednesday's strong rebound was not too surprising. The failure of the market to continue higher at the end of the week suggests the correction is not over. The new high in the Nasdaq Composite last week was met with skepticism not euphoria, which is not typical of an important top. There was a slight uptick in the bullish sentiment ...