After three weeks of moving higher, stocks took a pause to digest their gain. Turmoil in Ukraine and Iraq weighed on investors' mind as well. S&P 500 index closed at 1936, down 0.68%, Dow Jones Industrial Average lost 0.88%, and Nasdaq composite decrease 0.25% for the week.
For intermediate term trend, S&P 500 index is still moving upward with high momentum as shown in the weekly chart. However, in the daily chart, the index has come down from its high with decreasing momentum. It looks like S&P 500 index will test the 1900 support and resume its advancement if the test is successful.
In the US sectors, energy related sector funds have dominated the ranking tables due to higher oil prices resulted from conflict in Iraq and Ukraine. In the global arena, India has been strong as well as Brazil which is buoyed by the world cup soccer.
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| Weekly Chart of S&P 500 Index |
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| Daily Chart of S&P 500 Index |
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