Stock Market Weekly update -Dec 4th

Another rally week in the markets, after comments from the Fed on Wed. Could be quiet next week, with few events of any significance. Maybe we continue on to see a Christmas rally... time will tell. Breaking above some key levels in this area would be a potentially good sign for a continued market recovery.

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 here!

The Dollar was down again, as rates fell, again! Gold popped, while Oil was sup a bit.

Bitcoin/Crypto was flat to slightly up.


Pops:  Drops:   


S&P 500 -    -continuing the recent 'weekly' rally. 
-still near a potential resistance trend line for the 3rd time



VIX -still trending down, from the Oct 13th CPI high
Could be at a potential bottom here...

$NYA -NYSE Composite & (IWM)  Small-caps:  up a bit.
HYG -High yield Corporate Bonds   (2yr chart) -rallied again last week
LQD -Investment grade Corporate Bonds   (2yr chart) -rallied again
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:  ENPH, STLD, ADP, LMT, GD, etc ,      All time lows:  LCID
Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -near 19, and still dropping.
ETFs SPY, IWM, QQQ, SQQQ/TQQQ, VIX/VXX, XLF, XLE,  EEM,  GLD/SLV,

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

Next week:      
MTWThuF
Earnings:


AVGO, COST, DOCU, ORCL, LULU
Events:


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


10/30 blog: The US Dollar -topped?

US Dollar -continues to drop, 9 weeks now










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