The truncated week remained quite volatile; the markets were all over the place and the week ended on a negative note. The volatility over the last two days was fueled by the testimony of FOMC chief Jerome Powell who showed all the indications of continuing with the hikes; he also stated that the rates may settle higher than expected. The examination of the weekly charts looks devoid of noise as such; however, the trading range for the week stayed at 475 points. Following volatile movement during the week, the headline index finally settled with a net loss of 181.45 points (-1.03%) on a weekly basis.
