Stock Market update -Aug 29

Last week the SPX rallied once more to reach yet another new all time high. This week we get the monthly Jobs report on Friday. We also have the ongoing Afghanistan withdrawal which ends on Wed 31st. The market is at the upper end of its up-trending range, so we could see a pause sometime this week. 

The VIX dropped as the SPX rallied... Bonds traded up & down, still trying to find direction. Oil and Gold were both up. The Dollar pulled back a bit.

What was up this week:  ,  
What was down this week:  

Covid-19 death tolls….
World…4,357,282
USA…637,132
Brazil…567,914
India…430,759
Mexico…246,811
Peru…197,209
Russia…168,864
UK…130,801

S&P 500 -another new all time high (chart) 


High yield Corporate Bonds (HYG)  (2yr chart) -holding near all time highs
Investment grade Corporate Bonds (LQD)  (2yr chart) -lagging a bit

Market concerns:  Unemployment, Inflation...  new Covid variant spreading
Over $28 Trillion in debt!  See Debt Clock on the left, or here... 

New all time highs:  ADBE, AVGO, CRWD, DRI, DKS, FAST, EBAY, GOOGL, GS, NVDA, and more...
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:      Earnings -RETAILERS

MTWTF
Earnings:ZM,,CRWD ,  AI, CHWY , , AVGO, DOCU, CIEN, HPE, LULU, , 
Events:

 


This week's charts:  






$NYA -NYSE Composite  -another new all time high!
 (IWM)   Small-caps -still sideways, since February!

Links...
Gold was up, closing  around 1819, back above 1800!
The US Dollar was down, closing near 92.68
The 30 year Bond was down, closing near 164.50

News:

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