November 20, 2020

NASDAQ Holds On To Weekly Gain

NASDAQ Holds On To Weekly Gain
NASDAQ Holds On To Weekly Gain

The NASDAQ is the only one of the three major indexers to hold on to a weekly gain. Early in the week, the DOW was making a run at 30,000, but it ultimately failed to reach that level and has since been stuck in the mud incurring daily losses in the 3 of the 5 days this week. The NASDAQ, however, was able to post 3 winning days out of the 5 to produce a weekly gain.

As it stands heading into the close, the NASDAQ will post a gain of roughly +.75% while the S&P 500 and DOW will post weekly losses somewhere in the neighborhood of roughly -.4% and -.5%, respectively.

The U.S. dollar and gold are also on the losing side of the coin, posting weekly losses of -.4% and -.9%. Crude oil made a strong comeback with back to back weekly gains and will post a gain just short of +4% for the week.

Bitcoin continues to be on a tear posting its seventh straight week of gains, trading above the 18k level and gaining +17% on the week. Is Bitcoin replacing gold as a flight to safety? Or is something bigger on the horizon for the cryptocurrency?

Key Levels To Watch Next Week:

Every Success,
Jeremy Lutz
INO.com and MarketClub.com