Stock Market Weekly -May 8th

Yet another down week in the markets, tho not as bad as the prior 4 weeks. We got a rally after the Fed rate hike announcement, but gave it all back & then some on the following day! Stocks are dropping while Bonds are also dropping...

Stocks, Bonds, & the US Dollar are all still at potential turning points here, based on prior levels.

VIX was up again, back above the 30 level, while Bonds dropped again. 

Oil was up, Gold was flattish. Bitcoin/Crypto was down.

What was up this week:  US Dollar, Interest rates, 

What was down this week:  everything!


S&P 500 - still in a downtrend 
Possible 'support' in this area



High yield Corporate Bonds (HYG)  (2yr chart) -still dropping
Investment grade Corporate Bonds (LQD)  (2yr chart) 
-dropping like a rock! Almost at the Covid lows now!


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

New all time highs:  ...no significant names!
All time lows:    COIN, RIVN, PLTR & more
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:, ,  
, 
Events:

CPIPPI


This week's charts: 



Rising Rates -3yr chart

US Dollar -3yr chart


5:01: Rising rates & the US Dollar -about to peak??


$NYA -NYSE Composite  -dropping
 (IWM)   Small-caps -dropping. Could be heading back to the pre-covid highs

Links...
10yr Interest Rates  -still rising
Gold was flat, closing around 
The US Dollar was up again, closing near 103
The 30 year Bond dropped, closing near 

News:

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