Stock Market Weekly update -Feb 19th

 We saw a 2nd down week in the SPX last week, while the DOW has been flat for 6 weeks!  Still keeping an eye on the US Dollar rally, now up for a 3rd week (higher rates). Markets are closed on Monday.

The long term weekly 'downtrend' from the January 2022 high continues in the SPX (weekly 20MA line). Tho price is holding above that downtrend line for a few weeks.  


Less  likely now, but 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): -dropped a bit.
The Dollar popped for a 3rd week, as did the 10yr Rate.
Gold was down for a 3rd week! Oil has been rangebound for 2 months.
Bitcoin/Crypto popped.

Pops & Drops:   ABNB, ROKU 



S&P 500 weekly -pulled back for a 2nd week






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:
HD, WMT, PANW, COINBIDU, NVDA, TJXBABA, MRNA
Events:





This week's charts: 


10/30/22 blog: The US Dollar -topped?

After dropping, -Rallied for a 3rd week!













Credit Suisse


Links...

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