The S&P 500 was lower by 0.2% following the pullback to 2,969 shortly after the opening bell, snapping a 5-session winning streak. Near-term and upper support at 2,975-2,950 was breached but held with a close below the latter signaling additional weakness.
The Dow fell for the first time in 5 sessions after also giving back 0.2% while testing a first half low of 26,733. Near-term and upper support at 26,750-26,500 was tripped but easily held with a move below the latter likely leading to a further backtest towards 26,250-26,000 and the 50-day moving average.
The Nasdaq had its 6-session winning streak halted after slipping 0.1% while trading to a morning low of 8,093. Fresh and upper support at 8,100-8,050 was breached but held with a close below the 8,000 level signaling a possible near-term top.
The Russell 2000 closed in positive territory for the 2nd-straight session after adding 0.2% while closing on its session peak of 1,575. Current and lower resistance at 1,575-1,590 was cleared and held with a move above the latter getting 1,600-1,620 in focus.
For the week, the Nasdaq jumped 2% while the Russell 2000 was up 0.6%. The S&P 500 soared 1.7% and the Dow rallied 1.2%.
Financials paced sector strength after rising 0.4% while Energy, Consumer Discretionary, and Communication Services edged up 0.1% to round out the winners. Healthcare and Real Estate led sector laggards after falling 0.7% and 0.6%, respectively.
The best performing sectors over the past week have been Real Estate (4.3%) and Financials (4.1%). The only laggard has been Energy (-0.7%).
I hope this helps you prepare for the trading day. Make it a great one!