Although the major indices are closing lower on the day, each enjoyed solid gains this week.

The S&P index is higher for the 5th consecutive week. The NASDAQ index is up for the 8th consecutive week. The Dow Industrial average is up for the 3rd consecutive week. The small-cap Russell index lagged, but still closed with a gain for the week

For the day,

• Dow Industrial Average fell -107.05 points or -0.31% at 34300.75
• S&P index fell -16.17 points or -0.37% at 4409.68
• NASDAQ index felt -93.96 points or -0.68% at 13689.56

Looking at the small-cap Russell 2000 index, it fell -13.81 points or -0.73% at 1875.46

For the trading week:

• Dow Industrial Average rose 1.25%
• S&P index rose 2.58%. That gain was the largest since March 27 week
• NASDAQ index rose 3.25%. Like the S&P, the gain was the largest since March 27

The Russell 2000 index in the current week rose 0.52%

This article was written by Greg Michalowski at www.forexlive.com.

It is triple witching hour this week which can increase the end of day volatility. It is also the start of a three-day weekend in the US maybe there is some liquidation/profit-taking. As a result, indices are trading to new session lows. A snapshot of the market currently shows:

• Dow industrial average -88 points or -0.25% at 34320.50
• S&P index -12.9 points are -0.29% at 4413.15
• NASDAQ index -83 points are at -0.60% at 13699.90

Microsoft shares are down $4.27 or -1.23% of $343.82 after trading to a new all-time high of $351.47. Apple shares are also lower after it traded to an all-time high today of $186.96.

Nvidia remains positive but well-off high levels. The price is up $3.35 or 0.79% of $429.90. Its high price was at $437.21.

Adobe which rose as much as $27.83 is still higher but only by $6.50 or 1.32% at $497.32

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This article was written by Greg Michalowski at www.forexlive.com.

The price of crude oil is settling at $71.78. That is up $1.16 or 1.64%. The high reached $72.01. The low price was at $70.18.

For the trading week, the price is up $1.76 or 2.52%.

The low price for the week was reached on Monday at $66.82. The high price was today’s high at $70.01.

Looking at the hourly chart above, the price moved below the low price from May 31 at $67.03, but could not sustain momentum.

In trading yesterday, the price moved back above its 200-hour moving average (green line currently at $70.30). In trading today there was a brief move below the 200-hour moving average but it was quickly reversed and the price stepped higher into the settlement.

This article was written by Greg Michalowski at www.forexlive.com.