Stocks ‘Pause to Refresh’, Bitcoin Rallies

Stocks ‘Pause to Refresh’, Bitcoin Rallies

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

Date Symbol Price Technical Analysis Support Resistance
20 April 2018 QQQ 162.11 Neutral (-0.21) 158.64 163.89
20 April 2018 DIA 244.57 Neutral (-0.22) 238.32 244.76
20 April 2018 SPY 266.08 Neutral (-0.24) 259.11 267.29

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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