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Market 08/25 – 08/29

This weeks’ market behavior was little shaky and volatile, in weekly terms it went sideways. However I could see one positive point in the last August week trading. Even though on Friday the market dropped very significantly (Dow -171.63; -1.47%; 11,543.55; Nasdaq -44.12; -1.83%; 2,367.52; S&P -17.85; -1.37%; 1,282.83) the end of the week shows the resilience to go further down. See the chart:

As you can see at the end of the week the stocks went significantly up at growing volume. So, even though Friday went deep back down it still shows some strength for future growth. If the next week stocks will continue growing we can consider this rally as confirmed. However I wouldn’t recommend opening new positions until the market’s 50 day MA grows above its 200 MA.

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