Tag: DOW (INDEX:DJI)

Bitcoin and the cryptocurrency market overall are heading into the weekend down after a volatile week. Bitcoin will end the week down roughly -23% as I write this article after China released a statement stating that it is necessary to "crackdown on Bitcoin mining and trading behavior, and resolutely prevent the transmission of individual risks to the social field."

China's tough talk comes just a day after U.S. officials pledged to get tough on those using Bitcoin to conduct "illegal activity broadly including tax evasion." The Treasury Department said it would require reporting on cryptocurrency transfers of more than $10,000, just as with cash. Continue reading "Bitcoin Falls To End Volatile Week" →

The three major indexes experienced a roller-coaster week that saw the NASDAQ fall -2.3% for the week marking its fourth straight week of losses as the tech sell-off continued. The DOW and the S&P 500 fell -1.1% and -1.2% this week, respectively.

Early in the week, the NASDAQ fell over -5%, with the DOW dropping nearly 1,200 points from Monday to Wednesday. The S&P 500 was unable to escape the broad sell-off losing -4% itself.

However, the market fought back to close daily trading in the green on Friday, with the DOW climbing 360.68 points or +1.1%, to 34,382.13. The S&P 500 gained +1.5% to 4,173.85, and the NASDAQ, the relative underperformer for the week, snapped back by +2.3% to 13,429.98. Continue reading "NASDAQ Suffers Fourth Straight Weekly Loss" →

The S&P 500 and DOW jumped to record levels on Friday despite a disappointing April jobs report. The Labor Department said nonfarm payrolls increased by just 266,000 in April, far less than the 1 million total economists were expecting, according to Dow Jones. The unemployment rate rose to 6.1% last month amid an escalating shortage of available workers, higher than an expectation of 5.8%. Meanwhile, March's originally estimated total of 916,000 was revised down to 770,000.

As the market came to a close on Friday, the S&P 500 climbed +0.7% to 4,232.60, hitting a record high. The DOW rose 229.23 points or +0.7%, to 34,777.76 to reach another closing high, and the NASDAQ jumped +0.9% to 13,752.24. Continue reading "Disappointing Jobs Report And Record Highs" →

Stocks ended the week and the month of April with a thud on Friday as traders took profits amid a flurry of better-than-expected earnings results from the biggest names in the market. The S&P 500 fell -0.7% to 4,181.17, while the DOW shed -.54% or 185.51 points to close at 33,874.85, and the NASDAQ dropped -0.9% to 13,962.68.

On a weekly level, the S&P 500 was able to eke out a gain of +.02% marking 3 out of 4 positive weeks in April. The DOW and NASDAQ didn't fare well, both losing -.50% and -.39%, respectively.

While that may be disappointing, the bigger picture tells a different story. If you look at the monthly charts, The S&P 500 gained +5.24% while the DOW rose about +2.7% this month, and the NASDAQ gained +5.4% in April.

Key Levels To Watch Next Week:

Continue reading "Stocks End Week With A Thud" →

The stock market rebounded Friday after what was a volatile week for the market. Why all the volatility? It came from multiple news reports Thursday afternoon that President Joe Biden is slated to propose much higher capital gains taxes for the rich. That news sent stocks plummeting, with the DOW falling as much as 460 points before finally closing down 321 points on the day.

However, on Friday the DOW gained 227.59 points or +0.7%, to 34,043.49. The S&P 500 rose +1.1% to 4,180.17, while the NASDAQ climbed +1.4% to 14,016.81.

On a weekly level, the S&P 500 closed the volatile week with just a -0.1% loss, while the DOW and the NASDAQ fell -0.5% and -0.3% for the week, respectively.

The other big story for the week is Bitcoin's sudden sell-off; now, whether that was due to the news of the proposed capital tax increase or just profit-taking is up for debate, the cryptocurrency fell over -13% this week, hitting a new 3 week low of 47,555.00. However, the Trade Triangles got out of the trade issuing a new red weekly Trade Triangle at 54,677.51 early in the week, signaling a move to the sidelines.

Key Levels To Watch Next Week:

Continue reading "Stock Market Rallies To End Volatile Week" →