Stock Market Weekly -May 29th

 We finally got some upside action in the markets with a huge rally last week, wiping out the prior 3 weeks of losses.  The trigger for the reversal might have been the Fed minutes released on Wednesday. Next week we get the monthly Jobs report on Friday. Markets are closed on Monday for Memorial day.

Bonds  showed a 3rd 'up' week, a continuing sign of reversing the interest rate uptrend.

The US Dollar also saw a 2nd 'down' week, possibly reversing the huge uptrend. 

VIX dropped for a 4th week.  Oil was up, Gold was flat. 

Bitcoin/Crypto was flat.

What was up this week:  

What was down this week:  


S&P 500 - still in a weekly downtrend 
1st reversal week after 7 weeks down. Potential resistance lines shown.

$NYA -NYSE Composite  -popped last week
(IWM)   Small-caps: Made it back to the pre-covid highs, but reversed up last week as well.
HYG -High yield Corporate Bonds   (2yr chart) -still dropping, but reversed last week.
LQD -Investment grade Corporate Bonds   (2yr chart) -same.

Market concerns:   Inflation, Rising Rates, Russia/Ukraine...  
Over $30 Trillion in debt!  See Debt Clock on the left, or here... 

New all time highs:  ...mostly Energy names
Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -HIGH end of the range
ETFs SPY, IWM, QQQ, GLD/SLV, USO, XOP, VXX, XLF, XLE, FXI, EEM EWZ, 

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

Next week:      
MTWTF
Earnings:, CRM, HPQGME AVGO
Events:





This week's charts: 





Links...
10yr Interest Rates  -stalling?
Gold was up a bit, closing around 1851
The US Dollar was down again, closing near 101.50
The 30 year Bond was up again, closing near 140.92

News:

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