Stock Market Weekly update -Oct 19
The market tried to recover from the previous Friday’s big drop but has failed so far, except for the Small-caps. which had a massive rally, but then pulled back down on fears coming from the regional banking sector. The big Banks reported good earnings but the XLF financial sector ETF dropped for a 3rd week (regional bank concerns). AMD hit another all time high. RGTI quantum stock popped then dropped for the week, leaving a long ‘topping tail’ on the weekly chart. Gold closed at another all time high after rallying for a 9th week, tho we saw a pullback on Friday -could be topping out in this area. Crypto fell for a 2nd week. Oil has been in a downtrend, and fell some more last week. Long term Interest rates pulled back again, and have been in a downtrend since May. The VIX popped, then dropped on Friday! VIX Futures expire this Wed -we ‘could’ see a further VIX drop (bullish for the S&P). Mega Caps Daily chart -Uptrend -Downtr...