S&P index snaps a seven day winning streak

Technical Analysis

Author: Greg Michalowski | sp

NASDAQ index lower for the second time in three trading days

The S&P index snapped a seven day winning streak with a modest decline of around five points or -0.11%. 
  • The Dow industrial average posts a record close and is up for the third day in a row. The Dow's record close was the first since August 16
  • The NASDAQ index was the big loser with a decline of -0.82%
  • The major indices close higher for the third week in a row
Next week is the granddaddy of all the earnings release weeks with Facebook, Amazon, Apple, Alphabet, Starbucks, Boeing, Caterpillar, etc. all on the schedule. 

Ahead of those earnings Facebook fell 5.05%. Amazon fell -2.9%, Alphabet fell -3.04%, Boeing fell -0.64%, Microsoft fell -0.51%.

A look at the closes shows:
  • Dow industrial average up 73.94 points or 0.21% at 35677.02
  • S&P index down 4.84 points or -0.11% at 4544.95
  • NASDAQ index -125.50 points or -0.82% at 15090.20
For the week:
  • Dow industrial average rose by 1.08%
  • S&P index rose by 1.64%
  • NASDAQ index rose by 1.29%

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