T1 Group

THE WEEKLY SKETCH: 19 July 2020 ✨�-
Stocks struggled for direction into the weekend with news of advances in coronavirus treatments being countered by the large increase in new Covid19 cases, particularly in the US, and heightened tension between China and the rest of the world. The DOW Industrials declined 62.25 points, or 0.23%, to finish the week at 26,672.46. The S&P 500 rose by 9.17 points, or 0.29%, to close the week at 3,224.74 and the NASDAQ Composite was up by 29.36 points, or 0.28%, to end the week at 10,503.19. �
Overall, the DOW Industrials finished the week up by 2.30%, whilst the S&P 500 rose by 1.30%. The tech heavy NASDAQ declined 1.10%, for the week, and showed the first signs of rotation out of these stocks and into more cyclical investments. Having been largely responsible for dragging the rest of the markets with them the tech stocks are, perhaps, due for a consolidation period. The earnings reports in the week ahead, featuring a host of tech names, will be important in determining market direction following the sharp fall in Netflix this week. Netflix reported strong subscriber growth and earnings for the second quarter but raised investor worries over the second-half outlook for 2020.�
Technically, the S&P 500 continues to tread water in a slight upward trend and the two possibilities we outlined this week, in the Daily Sketch, both remain in play. We are still to have confirmation that the larger degree wave i-up from…�-�Unfortunately, that’s all Instagram has space for 😬 – so head to https://trade1-group.com/t1-education/theweeklysketch/ to continue your read! Link in Bio ✨🔗💪🏻