Resistance R3 1897.23, R2 1890.40, R1 1884.22
Pivot Point 1877.39
Support S1 1871.21, S2 1864.38, S3 1858.20
Resistance R3 1945.39, R2 1814.48, R1 1896.26
Pivot Point 1865.35
Support S1 1847.13, S2 1816.22, S3 1798.00
The USA stock market last week started with Russia flexing its military muscle in the Ukraine, and the market sold off to SPX 1834 by Monday noon. After the event was temporarily neutralized the market recovered, and made all time new highs every day thereafter. For the week the SPX/DOW were +0.90%, the NDX/NAZ were +0.45, and the DJ World index rose 0.40%. Economic reports for the week finally turned positive, with positive reports outpacing negatives ones 10 to 7. On the uptick: personal income/spending, PCE prices, ISM manufacturing, construction spending, monthly payrolls, the MIS, monetary base, the WLEI, plus weekly jobless claims improved. On the downtick: monthly auto sales, the ADP, ISM services, factory orders, consumer credit, plus the unemployment rate and trade deficit nudged higher. Next week we have Retail sales, Business/Wholesale inventories and the PPI.
Asian markets were mostly higher for a net gain of 1.2%.
Bonds entered a downtrend and lost 0.8% on the week.
SPX DAILY CHARTS
QUICK LOOK ALL MAJOR INDEX WEEKLY
$SPX with component chart
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