Stock Market Weekly update -Dec 18th

Reversal week, as we got the CPI report followed by the Fed meeting, indicating higher rates for longer -the market dropped non-stop for 4 days. Retail sales also came in weaker than expected, and we had a massive trillion$ Quarterly Options expiration on Friday -unfortunately, this week's events crushed all the bulls from the recent highs of around 4100 on the SPX.

Next week we get the final 2022 VIX Futures expiration on Wed. Interestingly, with the market dropping big over the past 4 days, the VIX barely moved!

The long term weekly 'downtrend' from the January 2022 high continues in the SPX (weekly 20MA line).

The Dollar was again flat for the week, as rates on the 10yr dropped a bit more. Gold was flat again, while Oil was up slightly!

Bitcoin/Crypto was flat.


Pops & Drops:   


  S&P 500 -    -reversal off the trendline continued



  VIX -still near the lows -Futures expiration on Wed

$NYA -NYSE Composite & (IWM)  Small-caps:  also dropped
HYG -High yield Corporate Bonds   (2yr chart) -dropped
LQD -Investment grade Corporate Bonds   (2yr chart) -drpopped
Market concerns:   Inflation, Rising Rates, Russia/Ukraine/China?  
Over $31 Trillion in debt!  See Debt Clock on the left, or here... 

New all time highs:  ----empty list!      All time lows:  AFRM, COIN, LCID 
Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -Reversed. Near 23 now, and rising.
ETFs SPY, IWM, QQQ, SQQQ/TQQQ, VIX/VXX, XLF, XLE,  EEM,  GLD/SLV,

Stocks AAPL, AMZN, TSLA, META, NVDA...

Next week:      
MTWThuF
Earnings:
FDX, NKEMU
Events:

GDPPCE report
This week's charts:   Pre-Covid highs -link (Oct 10th)


10/30 blog: The US Dollar -topped?





CPI event market reversals


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