Hello traders everywhere. Whew, what a week! We went from having the worst Christmas Eve trading day ever when the DOW lost over 600 points trading below 22,000, and the S&P 500 entered a bear market to have the best post-Christmas trading day ever when the DOW skyrocketed more than 1,000 points on Wednesday, the largest one-day point gain in its history. The S&P 500 gained 4.96%, its best day since March 2009 and the NASDAQ also had its best day since March 23, 2009, surging 5.84%.
Thursday was not to be outdone when early trading saw a widespread sell-off with the DOW trading down over 600ptt only to see furious afternoon buying action pushing the DOW into positive territory to end the day, which has extended into today with all three indexes looking to close out the week on a three-day winning streak. All three indexes seem to be ending a three-week streak of losses with gains this week. The S&P 500 is posting an increase of +3.3%, DOW +3.5% and the NASDAQ with a +4.3% gain.
Key Levels To Watch Next Week:
- S&P 500 (CME:SP500): 2,690.28
- Dow (INDEX:DJI): 24,828.28
- NASDAQ (NASDAQ:COMP): 7,197.29
- U.S. Dollar (ICE:DX): 97.71
- Gold (NYMEX:GC.G19): 1,269.40
- Crude Oil (NYMEX:CL.G19): 44.42
- Bitcoin (BITCOIN:BITSTAMPUSD): 3,122.28