Two tells turn against the tape — IEF's reclaim fails and dollar-yen holds within half a yen of the wire
Friday closed the week on a quiet index and a defensive tilt underneath: the S&P 500 slipped −0.17% to 7,785.76 and the Nasdaq-100 −0.13% to 30,046.14, while VIX compressed −2.60% to 14.25. Energy led every other sector over the trailing week by a wide margin; Discretionary was the lone sector red on both timeframes, and Friday's own data backed that read — consumer sentiment fell more sharply than forecast and retail sales posted their steepest drop in over a year.