Stock Market Weekly update -Nov 6th

Last week saw a drop in markets after the Fed announced another rate increase on Wednesday. Next week we get the CPI report on Thursday, along with the mid-term elections on Tuesday. Anything could happen!

U.S. Nonfarm Payrolls Rise by 261,000 in October, Topping Expectations
Fed Strikes New Tone, Stocks Still Slide After Latest Rate Hike

The long term weekly 'downtrend' from the January high continues in the SPX (weekly 20MA)...
The Dollar was flat, as rates were up a bit. Gold was up a bit, as was Oil.

Bitcoin/Crypto was up a bit for a second week.

Pops:  TWNK   Drops:  QCOM, TEAM, TWLO 


S&P 500 -  pulled back last week   -tho in a 'weekly' downtrend. 
DOW is leading the recent rally!

$NYA -NYSE Composite & (IWM)  Small-caps: dropped a bit
HYG -High yield Corporate Bonds   (2yr chart) -ditto
LQD -Investment grade Corporate Bonds   (2yr chart) -still 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... 

New all time highs:  COP, CVX, XOM, EOG, NE, etc. LLY,    All time lows:  CLOV, U 
Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -near 24, and still 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:
DIS, OXY
BAM
Events:
Elections
CPI

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

TWNK ...Twinkies!

10/30: The US Dollar -topped?


Markets can be unpredictable!


Bear Rallies





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