Hello traders everywhere. The weak finish by the stock market in August continued this week ending with all three indexes in negative territory. The S&P 500 is down almost 1% at -.97, the DOW is down -.33% and the NASDAQ suffered the worse loss of the three losing -2.1% as tech witnessed a significant sell-off, most notably in the social media segment.
The U.S. Dollar has bucked its recent trend this week by gaining +.36% on the week making that its first positive week in a month. However, oil and gold followed the overall markets and lost -3.31% and -.53% respectively.
But the biggest loser of the week was Bitcoin, which lost -10.5% on the week. One reason for the sell-off was news in the middle of the week that Goldman Sachs delayed the launch of a Bitcoin trading desk for their customers.
Key Levels To Watch Next Week:
S&P 500 (CME:SP500): 2,850.62
Dow (INDEX:DJI): 25,608.02
NASDAQ (NASDAQ:COMP): 7,787.90
Gold (NYMEX:GC.Z18.E): 1,214.90
Crude Oil (NYMEX:CL.V18.E): 69.59
U.S. Dollar (NYBOT:DX.U18.E): 96.30
Bitcoin (CME:BRTI): 6,227.36
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
