Market analytics for the week

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08.12.2023
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🟡 Another work week has come to an end. Of the important economic dates, only the US unemployment rate fell to 3.7% from 3.9%. The markets had almost no reaction to this report.

🟢 The cryptocurrency market rose again. The crypto market capitalization showed an increase of 9.4%. Toward the end of the week, VTS slowed down, and altcoins began to “ace” everywhere. It is worth noting ADA, SOL, ALGO, DOT, and others. Market participants are slowly pouring capital into altcoins. Some analysts are already noting FOMO on the market, for this reason, traders should be cautious.

🟡 The stock market slowed down as expected. The S&P 500 rose 0.1%, hitting strong resistance at 4,600 points. The Nasdaq rose 0.4%. The AI theme fired again this past week – semiconductors, GOOG, META, AAPL, and MSFT pulled the market into the green zone. Indices are up for 6 weeks in a row, experienced traders expect a correction that could last 1-2 weeks.

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