Indexes Set Records On Strong Jobs Report

The stock market set another round of record closes on Friday after the October jobs report came in better than expected, boosting optimism about the economic recovery.

Pfizer announced a significant development regarding its easy-to-administer Covid-19 pill, which fueled hope for a smoother reopening, sending shares of airlines and cruise line operators soaring.

The DOW rose 203.72 points or +0.56%, to close at 36,327.95. The S&P 500 gained +0.374% to 4,697.53 for its seventh straight positive day, and the NASDAQ edged up +0.20% to 15,971.59. All three major averages reached their respective record-closing highs.

All three major indexes posted their fifth positive week in a row and finished solidly higher for the month. On a weekly level, the DOW gained +1.42%, the S&P 500 +2.00%, and the NASDAQ rounded out the week up +3.05%.

Bitcoin's climb higher has slowed considerably, and you could argue that it's in a sidelines mode with a weekly loss of -1.4% after two lackluster weeks. The exit level to a sidelines position is creeping now, standing at 56,425.00, which would give us a red weekly Trade Triangle indicating a move to the sidelines.

Key Levels To Watch Next Week:

Every Success,
Jeremy Lutz and