Stock Market Indices Review for Week 16 in 2015
Apr 18, 2015 - Posted by Kevin Hsu
- Etsy's IPO opened at $31 per share, hit a high of $35.73 before closing at $30 even.
- WTI closed on 4/17 at $55.74 up 8% and Crude Oil $63.45 up 9% from the week before.
- Coca-Cola Co to buy China Culiangwang Beverages (multigrain drinks) for $400.5 million.
- U.S. consumer price rose for the 2nd month in a row (strong sign of inflation).
- Antitrust lawyers said leaning against Comcast's bid to buy Time Warner Cable Inc.
The S&P 500 closed at 2081.18 on Friday, April 17th, 2015. The S&P was able to hold itself up much better than the DJIA with only a 0.09% decrease compared to the prior week. However, the triangle pattern is beginning to form similar to that of the DJIA. Friday's volume was the highest of the month and particularly on a Friday. Although we are still trading at about the 50 and 20 day moving averages, bulls should tread carefully. Like the DJIA, sideways action would be good for the bulls, otherwise the overbought indicators suggest further pullback is likely to occur in the following week.
The Nasdaq closed at 4995.98 on Friday, April 17th 2015. This was a decrease of 1.28% from last Friday the 10th. The Nasdaq appears to be the strongest of the three indices at the moment. It is currently above the 50DMA and is still trading within its range.This is a positive sign for bulls. However like the S&P and DJIA, the stochastic indicators suggest we are in overbought territory. However, any break below the 50DMA would suggest a retest of the bottom of the trading range.