Stock Market Weekly update -Oct 23rd

Last week saw another move higher, as the Fed possibly signaled a rate slowdown (on Friday morning, ahead of their quiet period), and as October Options expired on Friday -lots of Puts expired worthless with last weeks rally!

Next week we get a busy week of earnings, with large cap and large Tech reporting. We also get some more economic reports.

The long term weekly 'downtrend' from the January high continues in the SPX (weekly 20MA)...

The Dollar was down a bit, and we saw a huge drop vs the Yen. 

Bonds dropped again/higher rates -13th week?  The 10year yield held above 4%. 

Gold was flat, as was Oil.


...and the debt clock now shows over $31 TRILLION!

What to Expect in the Markets Next Week -more BIG-CAP earnings.

  • Next week could be the busiest of the corporate earnings season. Investors can expect earnings from big tech, with Apple, Amazon, Google, Microsoft, and Meta Platforms all scheduled to report.
  • Other prominent companies reporting earnings next week include Visa, Mastercard, Twitter, Boeing, American Airlines, Ford, General Motors, Starbucks, The Coca Cola Company, McDonald's, Caterpillar, Intel, IBM, Merck, and ExxonMobil, among many others.

Bitcoin/Crypto was flat again, still bouncing around 20k

Pops:  NFLX   Drops:  SNAP, 


S&P 500 -  Still bouncing from 3600ish -tho in a 'weekly' downtrend. 

$NYA -NYSE Composite & (IWM)  Small-caps: maybe stalling the downtrend for now
HYG -High yield Corporate Bonds   (2yr chart) -ditto
LQD -Investment grade Corporate Bonds   (2yr chart) -still dropping below the Covid lows!
Market concerns:   Inflation, Rising Rates, Russia/Ukraine, Japan?  
Over $31 Trillion in debt!  See Debt Clock on the left, or here... 

Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -near 30, but dropping.
ETFs SPY, IWM, QQQ, SQQQ/TQQQ, GLD/SLV, USO, XOP, VXX, XLF, XLE,  EEM EWZ, 

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

Next week:      
MTWThuF
Earnings:
KO, UPS, MMM

GOOGL, MSFT, V, CMG, TXN,		BA

META		SHOP, MCD, CAT, MA, MRK, 

AAPL, AMZN, INTC

CVX, XOM, ABBV
Events:





This week's charts:   Pre-Covid highs -link

Corp Bonds

The US Dollar -topped?

The state of Real estate?


BYND -once a hi flier





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