Stock Market Weekly -Jul 3rd

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 was down this week:  


S&P 500 - reversed back down a bit last week -still in a weekly downtrend 


$NYA -NYSE Composite and (IWM)  Small-caps: rallied then pulled back a bit last week.
HYG -High yield Corporate Bonds   (2yr chart) -down, trying to rally a bit 
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:   GIS, HUM
Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -holding up still: 27ish
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:, 
LEVI
Events:





This week's charts: 





The Bearish trend continues


One of the few companies reaching All Time Highs last week


Corp Bonds -since the GFC!


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