Weekly Market Report: Monday, July 15th, 2024, to Friday, July 19th, 2024.

Good day, traders!

Welcome to this week's market report where we share with you some important data and highlight major market events that occurred during the trading week as they relate to US Dollar Index (DXY), Dow Jones (US30), and the Nasdaq (NAS100).

DXY

• Overall Percentage Gain of the week: +0.27%
• Total Pip Gain of the week: overall, about 28 pips were gained this week.
• Fluctuations of price during the week: Price ranged this week on the DXY between the low of 103.650 and the high of 104.510.

At the beginning of the third trading week of the month of July on Monday, the DXY opened and closed with a bullish sentiment. However, the price action on Tuesday indicated that though there are still buyers in the market, the seller's pressure outweighed the buyers which led to a bearish candle close. This was further confirmed by the impulsive bearish close on Wednesday due to the news release including the GBP CPI y/y. Thursday saw a complete reversal of price leading to a +0.46% gain in contrast to the -0.46% loss on Wednesday due to the news releases such as the main refinancing rate, Monetary Policy Statement, Unemployment claims, ECB press conference among others. Price also continued with this bullish sentiment set on Thursday to close for the week on Friday at +0.27. 

Price movement this week was a bidirectional move. The low of the week was made on Wednesday 103.650 while the high of the week was made on Tuesday at 104.510

Overall, this week also showed a bullish movement.

Dow Jones (US30)

• Overall Percentage Gain of the week: +0.58%
• Total Points gained this week: about 233 points were gained
• Fluctuations of price during the week: The opening price of the week on Monday was at 40,060.35, the DOW began with an impulsive bullish move that lasted till Wednesday which led to a 3.08% gain. Though Thursday saw a complete reversal of price, price peaked at the high of the week and another all-time high at 41,423.27. This bearish sentiment continued on Friday and price closed for the week at 40,293.56.

The price action of the DOW this week was bidirectional as it showed both bullish bearish moves this week. However, it closed bullish overall

Top three gainers this week: Merck & Co Inc (+1.223%), Nike Inc (+0.442%), and Procter & Gamble Co (+0.314%).

Three Biggest losses this week: Travelers Companies Inc (-7.761%), Intel Corp (-5.42%), and American Express Co (-2.737%).

Nasdaq (NAS100)

• Overall Percentage loss of the week: -4.09%
• Total Points lost this week: a massive 832 points were gained this week in total.
• Fluctuations of price during the week: After peaking at a new all-time high on the NASDAQ this previous week, the NASDAQ experienced a complete down surge that led to the -4.08% loss. Price gapped up on Monday to open at 20,352.15 and had a bullish close that also made the high of the week at 20,598.80. Tuesday through Friday saw a complete decline in price as price continuously closed bearish leading to a 4.50% loss and closed for the week at 19,520.50. The low of the week was made on Friday at 19,470.15.

Overall, the NASDAQ experienced an impulsive bearish move this week.

Top three Gainers this week: Intuitive Surgical Inc (+9.341%), Starbucks Corp (+6.847%), and DoorDash Inc (+5.804%).

Three Biggest losses for the week: CrowdStrike Holdings Inc (-11.103%), Intel Corp (-5.42%), and GlobalFoundries Inc (-4.95%).

In summary, this week saw mixed movements across the major indices. 

The US Dollar Index (DXY) ended the week with a modest gain of 0.27%, exhibiting both bullish and bearish trends influenced by significant news releases. 

The Dow Jones (US30) also closed the week positively, gaining 0.58% despite mid-week volatility and reaching a new all-time high. In contrast, the Nasdaq (NAS100) faced a substantial decline, losing 4.09% due to a continuous bearish trend after peaking the previous week.

We urge Goatfunded Traders to stay informed with news releases and trends.

Happy Trading.