Resistance R3 1853.58, R2 1849.85, R1 1843.05
Pivot Point 1839.32
Support S1 1832.52, S2 1828.79, S3 1821.99
Resistance R3 1873.89, R2 1861.69, R1 1848.97
Pivot Point 1836.77
Support S1 1824.09, S2 1811.88, S3 1799.13
Even though it was a holiday shortened week the market finished a rally on Wednesday at SPX 1848, dipped to 1825 by Thursday, then started another rally. For the week the SPX/DOW were -0.20%, the NDX/NAZ were mixed, and the DJ World index was +0.60%. Economic reports came in slightly lower for the third week in a row. On the uptick: the CPI/PPI, leading indicators, the monetary base, plus weekly jobless claims improved. On the downtick: the NY/Philly FED, the NAHB index, housing starts, building permits, existing home sales and the WLEI. Next week we get Q4 GDP, Durable goods orders and more Housing reports.
The Asian markets were mostly higher on the week for a net gain of 1.8%.
Bonds continue to uptrend but lost 0.1%.
SPX DAILY CHARTS
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$SPX with component chart
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