Nasdaq Hits New Lows To Cap Bearish Week; Target, Chipotle Stand Out | Summary and Q&A

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September 11, 2020
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Investor's Business Daily
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Nasdaq Hits New Lows To Cap Bearish Week; Target, Chipotle Stand Out

TL;DR

The stock market experienced increased volatility this week, with the NASDAQ Composite and S&P 500 both facing downward pressure. Target and Chipotle showed resilience amidst the market turbulence.

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Questions & Answers

Q: How did the stock market perform this week?

The stock market faced increased volatility and downward pressure, with key support levels being violated. This suggests a potential change in market conditions.

Q: What were the key support levels that were violated?

The 21-day and 50-day moving averages were breached, indicating a potential shift in market direction.

Q: How did Target perform amidst the market turbulence?

Target showed resilience, gradually pulling back in a more calm and gradual manner. It is considered one of the top discounters with strong e-commerce and digital sales.

Q: How did Chipotle fare during the market volatility?

Chipotle displayed strength, forming a three-week tight pattern amidst the market turbulence. Its relative strength line reached record highs, signaling strong performance.

Summary & Key Takeaways

  • The stock market experienced a character change this week, with increased volatility and a downward trend.

  • Key support levels, such as the 21-day and 50-day moving averages, were violated, indicating a potential shift in market conditions.

  • Target and Chipotle both showed strength during the market turbulence, with Target gradually pulling back and Chipotle forming a three-week tight pattern.

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