Market Update Into 3/15: Major Indexes Touch ATH
Stocks were mixed Friday, with two major U.S. stock indexes closing at all-time highs while the tech sector slid into negative territory; with some pointing to interest rates spiking to their highest in more than a year. There is still a lot of optimism surrounding the passage of the $1.9-trillion coronavirus relief package, potentially staving off further declines; which can be seen in positive closes for Ford, Delta Airlines, Carnival Cruises, GE, and Uber (to mention a few).
In this blog post, make sure to check out the top 5 TrendSpider charts posted this week on social media; as well as the broad market charts into next week! Don’t forget Season 3, Episode 10 of the “Stock Trading Pit” this Sunday at 6 PM (EST) with special guests, Hugh Henne and Mike Pisani (OptionsMike).
Set A Reminder and Tune In Here
The $SPY reached a new ATH at $395.65 to pullback for a close at $394.05 (0.00%); yet holding above the trendline from a Nov 2020 high.
The $QQQ closed at $315.74 (+0.09%) at a high volume node on the volume shelf; still holding above the lower trendline on the weekly.