Stock Market update -Jan 17th

We pulled back a bit last week on the SPX, but still in a bullish chart pattern. The market dropped a bit on Friday, while big banks reported earnings as well. This week we have the presidential inauguration on Wednesday.

The VIX creeped up a bit.

Bitcoin recovered a bit from the prior week drop.

What was up this week:  

What was down this week:  



S&P 500 -holding the uptrend, above the Sep 2 & Nov 9 highs (chart) 

High yield Corporate Bonds (HYG)  (2yr chart) -holding up 
Investment grade Corporate Bonds (LQD)  (2yr chart) -topping? base? 

Market concerns:  Coronavirus... Unemployment... 
Over $27 Trillion in debt!  See Debt Clock on the left, or here... 

Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -low end of the range
ETFs SPY, IWM, QQQ, GLD, GDX, USO, XOP, VXX, XLF, XLE, FXI, EEM EWZ, 

Stocks AAPL, AMD, BAC, BABA, DIS, FB, MU, NFLX, NVDA, TSLA...


Next week:      
MTWTF
Earnings:, BAC, GS, NFLX, DFS, MS, PG, UNH, UAL, IBM, INTC, ISRG
Events:




This week's charts:


$NYA -NYSE Composite  -New high this week
 (IWM)   Small-caps -ditto


Links...
Gold was down slightly, closing  around 1827
The US Dollar was flat, closing near 90.78
The 30 year Bond was up a bit, closing near 169.25

News:

Stocks fall for back-to-back sessions, S&P 500 posts weekly loss of more than 1%

Why Nvidia Is My “Slam Dunk” Investment For The Decade


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