Stocks ‘Pause to Refresh’, Bitcoin Rallies
$DIA, $SPY, $QQQ, $BTCUSD
- Bitcoin closed in on its 1st back-to-back weekly gainer this year
- US Stocks retreated for the 2nd day running Friday
Digital assets moved higher Friday as the appetite for currencies expands.
Currently, Bitcoin is trading at: 8,517.8154, +218.811, or +2.64%, as of 9:53p BST, the market is open.
The # 1 digital currency, is more than 5% off its Tuesday low and at its highest marks since 26 March 2018.
The S&P 500 lost 0.9%, the DJIA dropped 0.8%, and the NAS Comp declined 1.3%, but all 3 major averages managed to maintain gains on the week
The US stock market marked its 2nd straight weekly advance this week, but the losses Thursday and Friday pared the gains.
The S&P 500 added 0.5% this week, the DJIA, and the NAS Comp rose 0.4% and 0.6%, respectively.
At the close Friday, 7 S&P sectors finished with weekly gainers, and 4 finished with weekly losses.
The energy group (+2.6%) was the Top-performing group, as WTI Crude Oil futures advanced 1.5% over 5 sessions, closing Friday at 68.38 bbl.
The consumer staples sector (-4.4%) was the worst performer, extending its Y 2018 loss to 11.8%
In general, growth-sensitive sectors outperformed defensive ones, although the Top-weighted technology group (-0.2%) bucked this trend
Friday the major US stock market indexes finished at: DJIA -201.95 at 24462.94, NAS Comp -91.93 at 7146.12, S&P 500 -22.99 at 2670.14
Volume: Trade on the NYSE came in at 921-M/shares exchanged
- NAS Comp +3.5% YTD
- Russell 2000 +1.9% YTD
- S&P 500 -0.1% YTD
- DJIA -1.0% YTD
HeffX-LTN’s Market Indexes Technical Analysis
Have a terrific weekend.
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