Key Takeaways
- Latest gains can be classified as bounce rather than the beginning of a new and sustainable uptrend
- The quality of the current downtrend still remains quite high
- The current risk-/reward ratio still looks too low for a strategic bargain hunt
Market Review |
Despite Friday’s strong declines, U.S. stocks finished the week with gains. Closing at 29,296.79, the Dow Jones Industrial Average added 2 % for the week. The S&P 500 booked a weekly gain of 1.5% and closed at 3,639.66. The Nasdaq finished at 10,652.41 and eked out a 0.7% gain this week. Most key S&P sectors finished higher, led by the energy sector. The CBOE Volatility index (VIX), widely considered the best gauge of fear in the market, traded near 31.3. Read MoreYou are currently viewing a placeholder content from X. To access the actual content, click the button below. Please note that doing so will share data with third-party providers.
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