Stock Market update

We got a recovery bounce in the SPX last week off the 100MA, and it now sits at the down-sloping 20MA, so possible resistance for this rally. This is an event filled week with the Fed on Wednesday, Oct Options expiration on Friday, CPI & PPI, and not to forget the Evergrande China issue, and the pending $3 trillion plus infrastructure bill. and the start of earnings with the banks. Interest rates continue to rise in the meantime.

Bonds dropped a bit more -trending that way since early August -so higher rates contnue. 

Oil was up again, Gold was flat, and the Dollar was up.

What was up this week:  ,  

What was down this week:  , 

S&P 500 - trying to recover  (chart) 


High yield Corporate Bonds (HYG)  (2yr chart) -pulling back
Investment grade Corporate Bonds (LQD)  (2yr chart) -dropping as well

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

New all time highs:   NET, ORCL, 
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 
MTWTF
Earnings:,, , JPM, BLK, DAL, BAC, C, MS, WFC, DPZ, WBA, UNHGS
Events:

Oct Options Expiration

This week's charts:  






$NYA -NYSE Composite  -sideways since May
 (IWM)   Small-caps -sideways since February!

Links...
Gold was flat, closing  around 1758, well below 1800!
The US Dollar was up, closing near 94.05
The 30 year Bond dropped again, closing near 160.34

News:



Comments

Post a Comment

Popular posts from this blog

Stock Market Weekly update -Apr 20

Image
  We saw lots of ‘chop’ last week, ending just below where we started, with tariff uncertainty still hanging over the market. The DOW lagged as it dumped on Thursday after UNH reported earnings. Long term rates pulled back a bit while Gold continued to rocket higher, closing near $3326. This week we get more earnings including GOOGL & TSLA,  04/06:  Hedging against losses… How? If you got ahead of the tariff announcement on Monday Mar 31st using an Inverse ETF like SQQQ (SPXS, SOXS, etc) , it was up approximately 30% that week! Note that Leveraged ETFs should only be used for short term trading. This week:   Schwab Weekly Trader's Outlook Edward Jones recap More earnings  This week: 3red week of earnings reports.  The market is still very volatile so caution is advised. The 10 year Interest rate -dropped a bit, now at 4.33% The Dollar - dropped a bit to 99.23 Gold - another big rally to $3326 Oil -rallied to $63.68 Bitcoin/Crypto   -rallied a ...
Read more

Stock Market Weekly update -Nov 24

Image
  The SPX recovered from the prior week drop, moving from 5870 to close on Friday at 5970. The other indexes also rallied, with the DOW closing at the prior all time high from 2 weeks ago. Long term Interest rates stayed mostly flat as the Dollar continued to rally. Gold had a big recovery rally. NVDA reported blowout numbers again, but the stock dropped! TGT tanked after earnings, still dropping since its peak in Aug 2021. WMT popped on earnings to another all time high (a DOW stock rallying like a tech stock since its bottom in May 2022) -this was its 4th earnings pop this year. This will be a short trading week because of the Thanksgiving holiday. This week:   Schwab Weekly Trader's Outlook   Market is closed on Thursday The 10 year Interest rate -flat at 4.4% The Dollar - rallying for 8 weeks now 107.5 Gold - rallied to $2715 Oil -rallied  to 71.10 Bitcoin/Crypto :  - another big rally to around 99.5k! New all time Highs :  WMT, BJ, COST, WFC, JPM,...
Read more

Stock Market Weekly update -Oct 27

Image
We saw a break in the 6 week SPX rally, closing near 5808, as the DOW also dropped & took back the prior 3 weeks of gains! The Nasdaq 100 rallied for yet another week, tho not by much. Semiconductors were mostly flat for the week, while Small-caps saw a big drop like the DOW. Long term Interest rates continued higher. TSLA popped on earnings, IBM, KO, CL dropped.  We’ll probably see some volatility this week with big tech  earnings, and the Jobs report on Fri. This week:   Schwab Weekly Trader's Outlook Monthly Jobs report/ Fri 3rd week of Earnings. The 10 year Interest rate -moved up again 4.23% The Dollar -was up for a 4th week 104.32 Gold - another all time high at $2748 Oil -up a bit 71.70 Bitcoin/Crypto :  - down a bit -around 67k New all time Highs :  PLTR, TMUS, PM, ICE, TTD, NDAQ, MSTR, DFS, CAVA, TXRH, EAT, BAM and more.       ALL time Lows :  – Pops & Drops/5 day movers :,   - Pops DJT (5th week), WU...
Read more