2014-02-08 Weekend Market Update (Will The S&P 500 Retest 1850?)
Weekend Market Update
Will The S&P 500 Retest 1850?
Equities recovered from Monday’s 2%+ sell off to finish in positive territory despite the weak January jobs report. The Dow Jones Industrial Average (DJIA) and the S&P 500 (SPX) added 0.61% and 0.81%, respectively. Of the three major U.S. indices, the Nasdaq-100 (NDX) was the outperformer, rising 1.14% this week. Once again the spot Volatility Index (VIX) printed a bearish engulfing pattern on the weekly chart, dropping 16.95%.