Weekly Market Report: Monday, December 18th, 2023, to Friday, December 22nd, 2023.

Good day, traders!

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

DXY

  • Overall Percentage Loss of the week: -0.86%
  • Total Pip-Loss of the week: about 88.5 pips was lost this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the high of 102.634 and low of 101.429

The news releases affecting the DXY this week were the Gross Domestic Product (GDP) for GBP and the Unemployment claims for the US. Its overall unidirectional bearish move began after price had peaked at its high of the week at 102.634 on Monday. Driven by enough folder news, price declined through the week till Friday where it made the low of the week at 101.429. There were, however, corrective moves made on Wednesday and a little retracement on Friday.

This week also showed a strong bearish move in continuation of last week's bearish move.

Dow Jones (US30)

  1. Overall Percentage gain of the week: +0.16%
  2. Total Points gained this week: a massive 59.78 points gained
  3. Fluctuations of price during the week: With an opening price on Monday at 37340.27, the Dow correctively moved upwards till it peaked at the week's high at 37698.43. Price then declined sharply till the low of the week was formed at 37074.63. The DOW then closed at 37400.05 for the week.

The price action of the DOW this week showed more like an indecision as opposed to the impulsive bullish move of last week.

Top three gainers this week: Intel Corporation (+1.954%), Amgen Inc (+1.729%), and Merck and Co Inc (+1.231%).

Three Biggest losses this week: Nike Inc (-11.826%), Walt Disney Co (-1.087%), and Boeing Co (-0.603%).

Nasdaq (NAS100)

  • Overall Percentage gain of the week: +0.86%
  • Total Points gained this week: about 142.25 points were gained this week in total.
  • Fluctuations of price during the week: With an opening price at 16620.50, the Nasdaq also began with a corrective bullish move this week on Monday to where it made the high and low of the week at 16861.93 and  16548.78 respectively on Wednesday. Price then resumed back its bullish move to where it closed at 16762.75.

This week's bullish move is also in continuation with the past two months's continuous bullish move.

Top three Gainers this week: ANSYS Inc (+18.083%), Moderna Inc (+4.092%), and Intel Corp (+1.954%).

Three Biggest losses for the week: Synopsys Inc (-6.34%), Trade Desk Inc  (-3.862%), and Constellation Energy Corp (-2.519%).

In conclusion, the market dynamics of this week unfolded with distinctive trends across DXY, Dow Jones, and the Nasdaq.

DXY marked a pronounced bearish trajectory, influenced by impactful news releases, showcasing a unidirectional move throughout the week.

Dow Jones exhibited a more indecisive pattern, lacking the impulsive bullish drive seen in the previous week.

Meanwhile, Nasdaq sustained its robust bullish momentum, continuing a trend observed over the past two months.