Stock Market Weekly update -Jan 22nd

 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 Week -earnings, econ reports, 

Pops & Drops:   

  S&P 500 weekly -still banging at the downtrend line 



DOW -leading up

S&P500

NASDAQ


1/1/23:  Indexes vs Pre-Covid early 2020 highs -the DOW already got there & reversed


Market concerns:   Inflation, Rising Rates, Russia/Ukraine
Over $31 Trillion in debt!  See Debt Clock on the left, or here... 


Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -holding near the lows.
ETFs SPY, IWM, QQQ, SQQQ/TQQQ, VIX/VXX, XLF, XLE,  EEM,  GLD/SLV,

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

Next week:      
MTWThuF
Earnings:
MSFT, JNJ, MMM, TXN, LMT BA, IBM, TSLA, INTC, MA, VCVX
Events:


PCE

This week's charts:   Pre-Covid highs -link (Oct 2022)



10/30 blog: The US Dollar -topped?

 -still dropping, from that 'tail'
Tho, near a support level here


Links...

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