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Week To Forget But A Month To Remember

Jeremy Lutz - MarketClub

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Sure, this week has been rough for traders and the markets overall, but it was a great month. Weeks like this are reminders to separate yourself from the recent daily volatility and look at the long-term trend. How do you do this? I'll show you in today's video. 

As for the overall markets, let's get into it. Friday was as volatile as they come, with the Dow dropping -1.5% or -475 pts. The S&P 500 had lost -2.5% but pushed back strong into the close but fell just short of finishing in the green with a loss of -.48% or -18.49 pts, and while the NASDAQ shed -3.5% early in the day, it also bounced back to post a daily gain of +.56% or +72.91. 

The S&P 500 is down -2.45% for the week, on pace for its second negative week in a row. The DOW has fallen -1.8%, and the NASDAQ way underperformed this week with its worst week since October, losing -4.9% on the week.

Now, this is where looking at the long-term trends can give you some sanity. Take a look at the monthly charts for not only the indexes but your favorite stocks. I guarantee you feel better, the reason why? On a monthly level, all three indexes that we track will post monthly gains of +2.6%, +3%, and +.93%, respectively. The S&P 500 and DOW were able to shake a slow start to the year where we saw both indexes post monthly losses in January, and the NASDAQ has posted four straight months of gains. 

Bitcoin and crude oil had the best months by far, with monthly gains standing at +40% and +17%, truly incredible. On the flip side, gold checks in with a monthly loos standing at roughly -7%, and the U.S. dollar remains relatively flat on the month. 

Key Levels To Next Week:

S&P 500 (CME:SP500): 3,789.54
Dow (INDEX:DJI): 30,911.37
NASDAQ (NASDAQ:COMP): 14,175.12
U.S. Dollar (ICE:DX): 91.23
Gold (NYMEX:GC.J21): 1,805.00
Crude Oil (NYMEX:CL.J21): 61.61
Bitcoin (BITCOIN:BITSTAMPUSD): 37,412.93

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