On Friday, the stock market fell again, closing out another losing week and continuing its rough start to 2022. Again, the NASDAQ was hit the hardest with Friday's selloff sending the tech-heavy index to its worst week since March 2020.
The NASDAQ declined -2.72% to close at 13,768.92. The DOW fell 450.02 points or -1.30% to 34,265.37, and the S&P 500 slid -1.89% to end the day at 4,397.94.
The Nasdaq posted a -7.6% loss for the week and now sits more than 14% below its November record close. The DOW and S&P 500 closed out their third straight week of losses of -4.58% and -5.68%, their worst weeks since 2020. The S&P 500 is off more than 8% from its record close.
Bitcoin was also hit hard on Friday as investors brace for the Fed and dump riskier assets with higher rates. As a result, the digital asset fell more than -15% to around $36,449 on Friday.
Key Levels To Watch Next Week:
- S&P 500 (CME:SP500): 4,818.62
- Dow (INDEX:DJI): 36,952.65
- NASDAQ (NASDAQ:COMP): 15,852.14
- U.S. Dollar (ICE:DX): 96.33
- Gold (NYMEX:GC.G22): 1,828.40
- Crude Oil (NYMEX:CL.H22): 85.69
- Bitcoin (BITCOIN:BITSTAMPUSD): 47,989.00
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
Having read this for the first time, 6 days after it was posted, I'd say he's right on the money.
After panic, created in March 2020, due to Corona effects, All Markets got "V" shape recovery, and that's too, in a fastest mode. All governments across the Globe pumped huge liquidity, and that free or easy funds created such euphoria, however, in the mean time, many Economical, Social as well fundamental issues remained un-solved, and markets had highly ignored underlying risk factors, so that was very sure that sooner or later, such Euphoria will be badly ended, and Finally it happens. I think, one should wait for more precised data and signals.
Nothing good? Only the biggest buying opportunity of the past 2-2.5 years!
wheres the money going ?
In times of a bear market, there is a common wisdom to go to cash and wait for the bottom to buy the advancing assets. You can also buy the 3x bear ETFs.
When asset prices drop there is no money, the value just disappears. The money paid for the assets went into the pockets of those who sold the assets. The rich get richer and the poor get poorer.
value and price are two very different things. What is the value of clean air ??