Late August Market Recap {Summer Rally}

With nothing on the economic front, investors seemed this week to focus less on if the economy will slow down and more about the ramifications for stocks if the Federal Reserve is finished raising interest rates. The Market's response was to stage a sudden and dramatic rally over the past three days, albeit on less than stellar volume. Stocks are currently very short term overbought.

I expect the markets to become basically a snoozefest until after labor day as most of the East Coast investment community will take most of the next two weeks off.

There may be some fireworks after Labor Day. Should be interesting either way.