Technical Analysis


NASDAQ 7-day win streak broken today

The S&P squeaked out a higher close. The Dow industrial average also closed higher. The gains for the day extended the up streak to 6 consecutive days. The NASDAQ index streak of 7 consecutive higher closes was broken as it fell close to 1% on the day.

A look at the final numbers shows:

  • S&P index rose 2.12 points or 0.06% to 3351.532
  • NASDAQ index closed down 97.09 points or -0.87% to 11010.98
  • Dow industrial average closed up 47.74 points or 0.17% to 27434.72

The Dow had his best week since June 5.. The S&P index at its best week since July 2.

For the week the major indices close higher with the Dow leading the way with a 3.81% increase. 

The change for the 1st week of August is showing:

  • S&P index, +2.45%
  • NASDAQ index, +2.47%
  • Dow industrial average +3.8%

Year-to-date, the Dow is within 3.87% of unchanged for the year. 

  • S&P index is up +3.73%
  • NASDAQ index is up and oversized +22.72%
  • Dow industrial average is down -3.87%

Winners today included:

  • First Solar, +13.08%
  • FedEx, +6.57%
  • Marriott international, +3.77%
  • Wells Fargo, +3.47%
  • American Express, +3.46%
  • Travelers, +3.17%
  • Charles Schwab, +2.72%
  • PNC financial, +2.58%
  • General Dynamics, +2.57%
  • Bank of America +2.47%
  • Citigroup, +2.42%
  • Raytheon technologies, +2.29%
  • J.P. Morgan, +2.2% 
  • Berkshire Hathaway, +2.11%. Berkshire Hathaway will announce their earnings tomorrow

Big decliners today included:

  • Tencent, -7.36%
  • Lyft, -6.65%
  • Uber, -5.21%
  • AliBaba, -5.08%
  • Slack, -3.76%
  • Zoom, -3.55%
  • Chewy, -3.23%
  • Adobe, -3.19%
  • Netflix, -2.77%
  • PayPal, -2.63%
  • Qualcomm, -2.53%
  • Tesla, -2.44%
  • Apple, -2.28%

European shares closed mixed led by the German DAX which rose by 0.66%. Spain’s Ibex fell by -0.11%.

For the week, European shares closed higher led by the German DAX with a 2.94% day:
  • German DAX, +2.94%
  • France’s CAC, +2.21%
  • UK’s FTSE 100, +2.28%
  • Spain’s Ibex, +1.06%
  • Italy’s FTSE MIB, +2.22%

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