On the whole, the week ending August 6 was far from smooth, though it began promisingly enough. Markets moved strongly upward at the start of the week, finishing above their 200-day moving average for the first time since June. Positive data from the ISM Manufacturing Index helped to build confidence. However, typically mixed economic data began to sour moods by the middle of the week. Sellers took over the market on Friday–though a late recovery ultimately pushed stocks back above the 200-day average.
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