Stock Market Weekly update -Jan 8th

The week started off with more selling, then we got a huge rally on Friday after the Jobs report. We'll have to see how it holds up next week, as we get the next CPI report on Thursday. We also have the big Banks kicking off earnings reports on Friday -could give a boost to the XLF.

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): -up a bit
The Dollar ended mostly flat for the week, while the 10yr Rate dropped.
Gold had a nice rally, while Oil dropped.
Bitcoin/Crypto was flat.
What to Expect in the Markets Next Week -Fed speaks on Tue, CPI on Thu, Bank earnings on Fri...

Pops & Drops:   BBBY dropped, on bankruptcy concerns

  S&P 500 weekly -broke out higher from the 2 week range



SPX last week


Stocks pushing up the DOW



2022 Sector performance



DOW -leading up

S&P500

NASDAQ


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




1/1/23: S&P500 Quarterly view -link


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:  CAT, MRK, AFL, CB, PGR, TRV, NVO, SJM, TJX   
All time lows:  BBBY, LCID, RIVN, LAZR  
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:

TSMBAC, BLK, C, JPM, WFC, UNH
Events:
CPI

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



10/30 blog: The US Dollar -topped?

yr end -still dropping, from that 'tail'


  CPI 'event' market reversals in 2022
We get the next CPI report on Thursday


Links...

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 -Aug 24

Image
  Another week, another weekly all time high for the SPX (barely), closing around 6466 after getting a big pop from the Fed speech at Jackson Hole on Friday. The DOW popped to a new all time high as well! Small-caps had the biggest pop but are still under the all time high. HD & LOW rallied for a 3rd week, as did the homebuilders(XHB).  Interestingly, the Nasdaq100 actually dropped last week! PLTR dropped 10% for the week. CRCL dropped for a 5th week. The Dollar dropped a bit on lower interest rate expectations.. The VIX dropped to a pretty low level as the market popped on Friday..   The week ahead:    PCE report Earnings  NVDA! Schwab Weekly Trader's Outlook Edward Jones recap The 10 year Interest rate -down slightly to 4.26% The Dollar - down a bit to 97.73  Gold - up a bit to $3371 Oil - up a bit to $63.76 Bitcoin   - up a bit to 117k ish   New all time Highs :  GOOGL, FAST, CBRE, HIG, TRV, RY, STT, UBS, NVS, VITL,...
Read more

Stock Market Weekly update -Nov 2

Image
   The market gapped up to new all time highs again last week, but then gave up most of those gains, leaving a ‘weekly’ tail bar on the SPX chart, a possible exhaustion signal (chart below). Small-caps dropped for the week.  AMZN, GOOGL, & CAT popped after earnings, MSFT, META, CMG, & BA dropped. The Fed cut interest rates by .25% as expected.  Gold dropped for a 2nd week.  No Jobs report next week as the government shutdown continues.   Mega Caps Daily chart  -Uptrend -Downtrend Crypto AAPL NVDA TSM GOOGL TSLA AVGO  AMZN? MSFT? META -dbl top NFLX BTC -choppy ETH  -multiple week downtrend -needs to overcome 4000 SOL -downtrend? Choppy. Needs to get above 200. The week ahead:    Earnings -4th week - Gov’t shutdown continues? 6th week Schwab Weekly Trader's Outlook Edward Jones recap The 10 year Interest rate -up a bit to around 4.10% The Dollar - rallied to 99.71  Gold - dropped again to close around $4002. O...
Read more