NEW YORK (TheStreet) -- This week was more active than most, both within financial markets and in the outside political realm. In the mix were the Syrian conflict, revised GDP numbers and the fact that it is the final week in August as well as a quickly approaching September Federal Reserve meeting.
Markets used the final month of summer to push riskier markets lower, such as equities, as lower volumes meant bullish participants could not put up as much of a fight.
The SPDR S&P 500 (SPY) chart shows U.S. equity indexes continued their corrections lower this week as civil conflict in Syria and the United States' reaction to it topped the news. Western intervention in the small country of Syria could put the former at odds with the likes of Russia and China pushed commodities higher and equities lower.
The S&P 500 is in a well-defined upward sloping channel but within that the prices are moving toward the channel's lows. As we remain in a state of uncertainty surrounding U.S. monetary policy and a resolution to the conflict in Syria, equities should continue to drift lower.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV