Stock Market Weekly update -Feb 26th

 Last week we saw the SPX drop for a 3rd week, bringing price lower and closer to crossing back below the weekly downtrend line!  Maybe we'll see a relief rally next week. Still keeping an eye on the US Dollar rally, now up for a 4th week and causing asset prices to drop (higher rates). 

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.
The Dollar popped for a 4th week, as did the 10yr Rate.
Gold was down for a 4th week! Oil has been rangebound for 2 months.
Bitcoin/Crypto dropped a bit.

Pops & Drops:   HD, MRNA dropped


S&P 500 weekly -pulled back for a 3rd 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) -moving up
ETFs SPY, IWM, QQQ, SQQQ/TQQQ, VIX/VXX, XLF, XLE,  EEM,  GLD/SLV,

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

Next week:      
MTWThuF
Earnings:OXY, ZMTGT, ROST, FSLR, CRM, LOW, DLTR, NIOAVGO, COST
Events:
PMI



This week's charts: 


10/30/22 blog: The US Dollar -topped?

After dropping, -Rallied for a 4th week!





2/19: Buybacks



2/19: Credit Suisse


Links...

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