The bad news is that it was the worst week for the Nasdaq since April. The good news is that after the sharp correction in April, the market recovered quickly.
Nasdaq weekly chart
Today’s price action was influenced by $2.7 trillion in options expiring including $555 billion in single stocks. It was the largest-ever July month expiration and speaks to the incredible power of the options market at the moment.
Next week we will spin it up again and find some new memes.
- S&P 500 -0.7%
- Nasdaq Comp -0.8%
- DJIA -0.9%
- Russell 2000 -0.6%
- Toronto TSX Comp -0.1%
Have a great weekend.
This article was originally published by Forexlive.com. Read the original article here.