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S&P closes at a record level for the 7th consecutive day

  
Analysis, US Market

NASDAQ closes at a record and so does the Dow…

The S&P index is up for the seventh straight day and closes at a record level once again.  It is the 7th record high close for the S&P.
The NASDAQ index also closed at a record today that is the second consecutive record close for the NASDAQ.
The Dow industrial average also closed at a record level. That is the first record close for the Dow this week and the first since May 7.
The major indices are all closing near the highs for the day after stronger jobs gains but not enough to worry the markets.  .
Leading the S&P are:
  • Information technology up 1.39% the
  • Consumer discretionary up 0.97%
  • Healthcare up 0.94%
  • Communication services up 0.93%
Three of the 11 sectors closed lower including:
  • Financials down -0.22%
  • Energy -0.08%, and
  • Utilities -0.06%
Other highlights:
  • Advancers 1703 vs Decliners 1608
  • Dow rises for the fourth straight day
  • Dow S&P and NASDAQ close higher for the second consecutive week
A look at the record closing levels shows:
  • S&P index rose 32.4 points or 0.75% at 4352.33
  • NASDAQ index rose 116.96 points or 0.81% at 14639.34
  • Dow industrial average rose 152.82 points or 0.44% at 34786.34
it wasn’t all happy and bullish times and small cap stocks:
  • Russell 2000-23.6 points or -1.01% at 2305.76
For the week,
  • S&P index rose 1.68%
  • NASDAQ index rose 1.96%
  • Dow rose 1.07%
(more…)

Dollar now falls to the lowest level of the day vs the EUR

  
Analysis, Forex

New highs for the EURUSD

The EUR lagged other currencies in making new lows vs the USD, but the EURUSD has just moved to a new high (new dollar low). The pair traded to a new high of  1.18602, taking out the earlier high at 1.18588.
New highs for the EURUSD
The next targets comes against the
  • 38.2% retracement of the move down from last Friday’s high. That comes in at 1.18708.
  • The falling 100 hour moving average is at 1.18755.
  • A swing area comes in between 1.1877 and 1.18815 (see green numbered circles and upper yellow area).
If the buyers are to assume more control, getting above those resistance levels are the minimum requirements. Falling short of those levels, and the corrective move higher is a plain-vanilla correction.
A move above that upper cluster of resistance would then look to tackle the 200 hour moving average at 1.19039.
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