It was a very bullish week for US equity indexes, with net weekly gains ranging from +3.8% (Nasdaq comp'), +2.9% (SPX), +2.4% (NYSE comp'), +2.1% (R2K), +1.9% (Trans), to 1.6% (Dow).
Lets take our regular look at six of the main US indexes
The SPX climbed for the 10th week of 12, breaking a new cycle high of 2830, settling +79pts (2.9%) to 2822. Note the upper weekly bollinger at 2894, and that will offer resistance in the low 2900s into early April.
The Nasdaq comp' climbed for the 11th week of 12, breaking a new cycle high of 7714, settling +280pts (3.8%) at 7688.
The mighty Dow climbed for the 10th week of 12, settling +398pts (1.6%) to 25848.
The NYSE comp' climbed for the 9th week of 12, settling +300pts (2.4%) to 12715.
The R2K climbed for the 10th week of 12, settling +31pts (2.1%) to 1553.
The 'old leader' - Transports, climbed for the 9th week of 12, settling +193pts (1.9%) to 10310.
All six of the main US equity indexes saw very significant net weekly gains.
The Nasdaq comp' and SPX lead the way upward, with the Transports and Dow lagging.
YTD price performance:
The Nasdaq comp' is leading the way for the first time this year, currently +15.9%. The R2K +15.2%, the SPX +12.6%, with the Transports +12.4%. The NYSE comp' is +11.8%, with the Dow lagging at +10.8%.
Earnings; OSTK, TLRY (Mon'), FDX (Tues'), MU (Wed'), NKE (Thurs'), TIF, DB (Fri')
M - Housing market index
T - Factory orders
W - EIA Pet' report
*FOMC: 2pm. Whilst rates will be held at 2.25-2.50%, its very possible an end date for QT will be announced. There will be a press conf' at 2.30pm, and that will last around an hour.
T - Weekly jobs, phil' fed, leading indicators,
F - Existing home sales, wholesale trade.
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Have a good weekend
*the next post on this page will likely appear 5pm EDT on Monday.