Hello traders everywhere. Stocks are looking to bounce back a week after they suffered a bit of a pullback that resulted in weekly losses for the S&P 500 -1.2%, DOW -.65% and NASDAQ -1.1%. The losses came on the heels of a record-setting week, so it's expected that there was room for a pullback.
What was a positive morning for the stock market with better-than-expected earnings from companies ranging from Coca-Cola (KO) to United Technologies (UTX) has turned mixed as we head into afternoon trading. Will the market post a positive weekly gain this week?
The U.S. Dollar issued a new green weekly Trade Triangle at $97.58, indicating that we could see a long-term uptrend take shape. This came after news of a congressional deal to extend the U.S. debt limit for two years, easing fears of a government default.
Key Levels To Watch This Week:
- S&P 500 (CME:SP500): 2,952.22
- Dow (INDEX:DJI): 26,616.21
- NASDAQ (NASDAQ:COMP): 8,059.29
- U.S. Dollar (ICE:DX): 96.72
- Gold (NYMEX:GC.Q19): 1,431.40
- Crude Oil (NYMEX:CL.N19): 56.60
- Bitcoin (BITCOIN:BITSTAMPUSD): 13,200.00