TradingSense

Its the end of the month, and last week we rallied yet again, closing out the SPX around 4130, near the early June top. Anyone with Put Options was left holding the bag! This area is a potential resistance area having stalled here before, and having been a prior support area on earlier drops. The Fed raised rates by .75 points, we got a bad GDP number, as well as a bad PCE number -and a huge market rally! More earnings next week, along with the monthly Jobs report on Friday-all market moving events.  The long term ' downtrend ' from the January high continues to be in place.  What to Expect in the Markets Next Week Bonds were up again, dropping Interest rates some more. The Dollar was down, Oil & Gold were up. Bitcoin/Crypto was up as well. What was up this week:   What was down this week:   S&P 500  - Made it up to that congestion area -still in a weekly downtrend  $ NYA  -NYSE Composite & ( IWM )  Small-caps: Also trying to...

Monthly S&P bars:  June drop, July recovery, and 2022 downtrend March rally, July rally .

  Last week, we dropped for 4 days, then recovered most of it on the 5th day, as most July Put Options on the indexes expired.worthless! Despite the huge Friday rally, we still need to get  above the 3900 resistance level to negate some of the downtrend. Lots of earnings next week as we kick off another earnings reporting season.  The long term ' downtrend ' from the January high continues to be firmly in place.  What to Expect in the Markets Next Week Bonds were up a bit, dropping Interest rates back a bit. The Dollar was up, Oil & Gold were down. Bitcoin/Crypto was mostly flat, as we still work our way through failures from exchanges & crypto hedge funds. What was up this week:   What was down this week:   S&P 500  - Trying to get above 3900 -still in a weekly downtrend  $ NYA  -NYSE Composite and ( IWM )  Small-caps: Also trying to rally. HYG - High yield  Corporate Bonds    (2 yr chart ) -recovere...

Last week, we attempted to climb a bit higher for a 3rd week now, after the huge 2 week drop we saw in the 1st half of June, tho we we were still not able to get above the 3900 resistance level.  We have still only recovered about 1/2 of that June drop so far. Time will tell whether we continue to recover, and get above 3900. Upcoming earnings over the next few weeks will probably be the catalyst for the next market move. However the long term ' downtrend ' from the January high continues to be firmly in place. We also have a CPI report this week. What to Expect in the Markets Next Week Bonds dropped, raising Interest rates back up a bit. The Dollar was up, Oil & Gold were down. Bitcoin/Crypto was flat, as we work our way through failures from exchanges & crypto hedge funds. What was up this week:   What was down this week:   S&P 500  - Trying to get above 3900 -still in a weekly downtrend  $ NYA  -NYSE Composite and ( IWM )  Smal...

Happy 4th of July! We climbed a bit higher for a 2nd week now, after the huge 2 week drop we saw in the 1st half of June, tho we gave back some of the weeks's gains. We have only recovered about 1/2 of that drop so far. Time will tell whether we continue to recover, or drop even further. Upcoming earnings over the next few weeks will probably be the catalyst for the next market move. However the long term downtrend from the January high continues to be firmly in place. From a bigger perspective, the 1st half of this year has been pretty ugly, with the worst drop we've seen in 40-50 years! Bonds did no better, showing a huge drop as interest rates rise. Brutal first half of '22 on track to shave $8 trillion off S&P 500 Bonds rallied, dropping Interest rates from the high,  for a 3rd week now .  The Dollar was up, Oil & Gold were down. Bitcoin/Crypto was down a bit, as we see more bad news from exchanges & crypto hedge funds. What was up this week:   What w...