The DOW climbed 293.05 points or +0.9%, a record close at 32,778.64. The S&P 500 erased earlier losses and inched up +0.1%, eking out a record close of 3,943.34, and the NASDAQ shed +0.6% as rates surged once again, putting pressure on the tech sector. Alphabet and Facebook dropped 2% each, while Apple, Amazon, and Microsoft closed in the red.
On a weekly level, the DOW and S&P 500 both triggered new green weekly Trade Triangles this week on their way to another record close. The DOW gained +4.07% on the week, with the S&P followed with a gain of +2.6%. The NASDAQ was able to bounce back after three straight weeks of losses with a weekly gain of +3.09%, but it wasn’t enough to trigger a new green weekly Trade Triangles; thus, the Chart analysis score remains +55, in a sidelines position.