Stock Market Weekly update -Jul 31st

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 rally.
HYG -High yield Corporate Bonds   (2yr chart) -recovering as well 
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:   ENPH, SO, LNG, Energy continues to lead
All time lows:   AVYA , VMEO, JAGX, VS
Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -Still dropping
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:





This week's charts: 


VIX -dropping for several weeks





Links...
Gold rallied, closing around 1771
The US Dollar was down, closing near 105.72
The 30 year Bond was up, closing near 144

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