After what the Goldman trading floor dubbed a "nauseating" rollercoaster of a week, which saw the S&P drop for the 4th week in a row and 5 in the past 6, the last five days saw some normalization as the S&P, Nasdaq and Russell all managed to eek out a modest gain despite volatility, a Fed decision, and a huge option expirtation.
Under the surface, investor posturing leaned towards pro-cyclical corners of the market (Energy, Financials, and Industrials all up +1-3%) and away from Tech/Mag7 -70bps, which dropped
