Stock Market Weekly update -Jul 19
The S&P 500 & Nasdaq were down for the week, but still in a 7 week consolidation range since the 9 week rally, with the Nasdaq now showing more weakness. The Small-caps were down for a 3rd week. The Semis dumped again, after a brief pause the prior week. Oil rallied for a 2nd week, now over $80 again. The VIX also rallied from multi-year lows. We saw mixed reactions from the big banks after earnings, while SPCX hit an all time low and IBM dumped by 26%! The week ahead could see more volatility in the Semiconductors. S&P 500 closes lower, Nasdaq falls more than 1% as chip stocks suffer The week ahead: 2nd week of Earnings -GOOGL, TSLA, INTC… Schwab Weekly Trader's Outlook Edward Jones recap SOXL -Triple leveraged Semiconductor ETF has dropped by over 50% over the past 4 weeks The 10 year Interest rate - mostly flat near 4.54% The Dollar - dropped a bit to around 100.75 Gold - dropped to $4018 Oil - rallied to $81.78 Bitcoin -...