Slow global growth, declining oil prices and jittery about corporate earnings handed Wall street the third week of loss. Volatility still prevailed in the markets and made investors nervous. On Tuesday, Dow Jones Industrial Average went up almost 300 points before plunging more than 400 points to the low of the day and closing just 32 points below the open. For the week, S&P 500 index closed at 2019, down 1.24%. Dow Jones Industrial Average lost 1.27%, and Nasdaq composite index decreased 1.48%.
S&P 500 index did not get the technical rebound as what we have discussed last week. However, the up trend appears to be intact as the index still closed above its 28 week moving average and the momentum indicator is still on the high side.
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| Weekly chart of S&P 500 Index |
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