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NASDAQ Holds On To Weekly Gain

Jeremy Lutz - MarketClub

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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 Next Week:
S&P 500 (CME:SP500): 3,279.74
Dow (INDEX:DJI): 26,691.28
NASDAQ (NASDAQ:COMP): 10,830.95
U.S. Dollar (ICE:DX): 94.30
Gold (NYMEX:GC.Z20): 1,879.20
Crude Oil (NYMEX:CL.F20): 41.49
Bitcoin (BITCOIN:BITSTAMPUSD): 13,220.00

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