The DOW fell once again Friday and notching its fifth straight week of losses joining the Death Cross party with the NASDAQ and Bitcoin.
As far as Friday's trading was concerned, the DOW fell 229.88 points or -0.69% to close at 32,944.19Likewise, the S&P 500 fell -1.30% to 4,204.31, and the NASDAQ fell -2.18% to end the week at 12,843.81.
On A weekly level, the DOW fell -1.99%, the S&P 500 slid -2.88%, and the NASDAQ once again suffered the most significant weekly loss, losing -3.53%.
If you're new to trading, technical trading, or just need a refresher. The death cross is a technical chart pattern indicating the potential for a major sell-off. The death cross appears on a chart when a stock's short-term moving average crosses below its long-term moving average. Typically, the most common moving averages used in this pattern are the 50-day and 200-day moving averages. While it doesn't always hold true, it could be an early indicator of further pain ahead.
Key Levels To Watch Next Week:
- S&P 500 (CME:SP500): 4,416.78
- Dow (INDEX:DJI): 34,179.07
- NASDAQ (NASDAQ:COMP): 13,837.59
- U.S. Dollar (ICE:DX): 95.80
- Gold (NYMEX:GC.J22): 2,004.00
- Crude Oil (NYMEX:CL.J22): 111.76
- Bitcoin (BITCOIN:BITSTAMPUSD): 45,332.38
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
