TradingSense

We saw a nice rally last week bringing the SPX up to a potential resistance level around 4100. Lots of the beaten down stocks rallied last week. Next week we get big tech earnings among others, along with the Fed on Wed, and the Jobs report on Fri, and a few other economic reports. Lots of market moving events. The long term weekly ' downtrend ' from the January 2022 high continues in the SPX  (weekly 20MA line) . A further rally this week could finally break above that downtrend line .   This weekly trend could also eventually take us down to the pre-Covid highs of early 2020!  The DOW & the Small-caps have already touched that level and rallied back up (see pics below). NYA (NYSE composite) & IWM (small-caps): -holding up just above the recent highs. The Dollar dropped a bit more for the week, while the 10yr Rate was flat. Gold had a small rally again, while Oil dropped a bit. Bitcoin/Crypto moved up a bit -3rd week! What to Expect in the Markets Next Week ...

 Wild week as we saw a big drop on Wed followed by an unexpected big pop on Fri! Maybe the Options tail wagging the dog again -I did mention last week that we would see the VIX expiration on Wed, and a huge Jan monthly Option expiration on Friday.  Next week we get more earnings, to include TSLA & MSFT. Last week we saw mixed earnings reactions, with the DOW dropping more than the other indexes. The long term weekly ' downtrend ' from the January 2022 high continues in the SPX  (weekly 20MA line) .  This weekly trend could eventually take us down to the pre-Covid highs of early 2020!  The DOW & the Small-caps have already touched that level and rallied back up (see pics below). NYA (NYSE composite) & IWM (small-caps): -holding up near the recent highs. The Dollar dropped a bit more for the week, as the 10yr Rate dropped a bit as well. Gold had a small rally, as did Oil. Bitcoin/Crypto rallied big for a 2nd week! What to Expect in the Markets Next Wee...

The big Jobs day rally from the previous week continued last week, with no real news catalyst (the CPI report came in as expected). Some attribute the rally to massive amounts of Options short positions in the market -basically a 'short squeeze'. It was a big rally week for most asset classes.  Next week we get more Bank earnings, along with NFLX earnings -and once again, Trillions in Options expiration on Friday! Also the VIX Futures expire on Wednesday -it has been dropping since the Oct 13th CPI high! The long term weekly ' downtrend ' from the January 2022 high continues in the SPX  (weekly 20MA line) .  This weekly trend could eventually take us down to the pre-Covid highs of early 2020!  The DOW & the Small-caps have already touched that level and rallied back up (see pics below). NYA (NYSE composite) & IWM (small-caps): -bigger recovery than the S&P and the Nasdaq. The Dollar dropped for the week, while the 10yr Rate dropped a bit as well. Gold had...