Hello traders everywhere. There is no doubt that this week has been brutal for traders with the stock market posting one of the worst weeks of the year. You only have to look at the DOW, and it's over 1300 point loss on the week for evidence. The DOW and S&P 500 will close down around 6% on the week. Both indexes are in corrections, and both are on track for their worst December performance since the Great Depression in 1931, down more than 11% each this month.
The NASDAQ is having it's worst week in nine months losing over 7% and officially entering a bear market. It's actually trading at a new fifteen-month low. With that move lower we finally got the red weekly Trade Triangle that we've been waiting on. The NASDAQ has now joined the DOW and S&P 500 with negative long-term downtrends. It looks like that death cross may have been right after all.
Key Levels To Watch Next Week:
- S&P 500 (CME:SP500): 2,800.18
- Dow (INDEX:DJI): 25,980.21
- NASDAQ (NASDAQ:COMP): 7,421.11
- U.S. Dollar (ICE:DX): 97.719
- Gold (NYMEX:GC.G19): 1,246.20
- Crude Oil (NYMEX:CL.F19): 47.51
- Bitcoin (BITCOIN:BITSTAMPUSD): 4,409.77
INO.com and MarketClub.com
7 thoughts on “Brutal Week Comes To A Disappointing End”
Same for me:
As soon as I short the market explodes to the upside.
Since I itch to short but don’t, the end might be close.
Hgher interest are helping millions of conservative older folks with no appetite for the stock market, and are afraid of losing what they have. (I have lost a bundle in the stock market)
The rulers of Wallstreet (GS etc.) are the Big manipulators once again. By crashing the markets these criminals are short and shorting until they make unlimited profits in multi billions of dollars. Bannon named these criminals long time ago : satanic desperados pushing the whole world over the cliff. It was always their ultimate goal to rule this business in their favor and their benefits. This time they risk a never seen massacre , after pushing the yearlong created bubbles since 2008 to an endless poverty! As examples of their fine tuning just a few are named: Sears, General Electric , General Motors, among hundreds of one time great companies: share buy backs and leave corporations as scelets, ruined to death. Any questions?
Air being let out of a long expanding bubble, some by the FR, some by corporations deciding that buying back stocks at the top is foolish, so saving their money for the bottom. Only question now is where the bottom is and if it will be surrounded by recession.
IT'S A SHAME HOW POLICTICS CONTROLS THE STOCK MARKET PEOPLE SAVINGS ETC/ REPUBLICANS & DEMOCRATS .My OPINION THERE WAS MANIPULATION GOING ON.God BLESS AMERICA ARMY VETERAN
I agree with Dominick. I also think that market manipulation is happening at the highest level of US govt. Hey Jared, short the market then I will say something nasty and the market will collapse. You cover and pocket a few millions. Seemes to be happening a lot.
All it would take is for me to short this market, then the decline would be OVER! I guarantee it!
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