It was a bouncy week for the market, but the major market indexes rode through it all by closing slightly positive for the week. After a sharp sell-off two Fridays ago, the market stabilized to end the current week above where it closed the Friday before. The NASDAQ Composite Index, along with the S&P 500, is holding support along its 20-dema, and remains well above its more critical 200-dma.
Friday’s action was helped along by quarter-end window dressing and positive headlines coming out of China as Treasury Secretary Stephen Mnuchin and U.S. Trade Representative Robert Lighthizer met with their Chinese counterparts. The meetings were hailed as constructive, but nothing concrete resulted, as has been the case since the talks began last year.
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