Stock Market Weekly update -Dec 11th

We got the 'turn' lower last week, near the resistance level & trendline, as we've seen 2 times before in this bear market. The VIX reversed from the bottom as well.

We have 2 big events this week which could alter that move in either direction -the CPI report and the Fed Rate announcement -also Retail sales. Big week!

We also have a big Options expiration on Friday, for the Monthly & Quarterly December options -its also the final Quarter of the year. 

The long term weekly 'downtrend' from the January high continues in the SPX (weekly 20MA line), tho the moving average line could be starting to turn up.

The Dollar was flattish, as rates were actually up a bit. Gold was flat, while Oil dropped again!

Bitcoin/Crypto was flat.


Pops & Drops:   

  S&P 500 -    -reversed from the recent rally, at the trend line. 
  We'll see what next week brings, after the CPI & the Fed


  VIX -reversed course near the support line last week!

$NYA -NYSE Composite & (IWM)  Small-caps:  Rally reversal
HYG -High yield Corporate Bonds   (2yr chart) -not much change
LQD -Investment grade Corporate Bonds   (2yr chart) -same
Market concerns:   Inflation, Rising Rates, Russia/Ukraine/China lockdowns...  
Over $31 Trillion in debt!  See Debt Clock on the left, or here... 

New all time highs:  CI, ALNY, MRK, NVO, HSY,  STLD,    All time lows:  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:ORCL

ADBE
Events:
CPI reportFed meetingRetail salesMo, Qtr, Options expiration
This week's charts:   Pre-Covid highs -link (Oct 10th)


10/30 blog: The US Dollar -topped?

US Dollar -paused, after a 9 week drop


12/11 So far the rally & VIX reversal is playing out





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