GoNoGo Charts – Launch Conditions (Week Ending October 2nd 2021)
GoNoGo Charts – Launch Conditions
Welcome to your latest issue of Launch Conditions from GoNoGo Research for the week ended October 1, 2021. After posting small gains in the previous week, the major U.S. stock indexes turned downward, and selling momentum returned to the stock market. In the wake of a mostly positive summer, volatility perked up over concerns of rising rates and valuations. The Nasdaq Composite fell 3.2%, the S&P 500 fell 2.2%, the Dow Jones Industrial Average fell 1.4%, and the Russell 5000 fell just 0.3%. Encouragingly, after coming under pressure for much of last week, a Friday rally left the market just 4% below all-time highs.
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