Stock Market Weekly update -Mar 5th

 We finally got a relief rally on Thu & Fri, after 3 weeks of selling, as the Dollar pulled back a bit. Rates on the 10y Treasuries closed flat on the week, and the VIX dropped yet again. Next week we get the Fed speaking for 2 days, and we get the monthly Jobs report on Friday. Lets see if we continue to hold up above the weekly downtrend line.

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 now.  

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): -rallied.
The Dollar pulled back a bit.
Gold rallied after a 4 week drop. Oil also rallied, but has been rangebound for 2 months.
Bitcoin/Crypto dropped a bit for a 2nd week.

Pops & Drops:   CRM popped



S&P 500 weekly -Relief rally after 3 weeks down




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... 

New all time highs:  NVO, PGR, STLD

Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -dropped again
ETFs SPY, IWM, QQQ, SQQQ/TQQQ, XLF, XLE,  EEM,  GLD/SLV,

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

Next week:      
MTWThuF
Earnings:CIENCRWD, DKS
JD, ORCL, DOCU
Events:
FedFed
Jobs report


This week's charts: 


10/30/22 blog: The US Dollar -topped?

1 week pullback after 4 weeks up





3/05: Credit Suisse -Never recovered since 2007
Credit Suisse 5-year CDS widen as shares plummet




..and here's another one -Citi



...and here's one that never recovered since 2000! INTC


And another -CSCO

Links...
ETFs performance - Ranked by  Volume
S&P 500 Sector performance 

News:
Stocks close higher Friday, Dow breaks 4-week losing streak...
Bank of America warns the Fed will hike rates to the ‘point of pain’...
Hemorrhaging losses, the Fed’s problems are now the taxpayer’s

Best Buy Is Closing 17 Stores This Week, With Dozens More to Come
Market links: 
24/7 Wall St.
Fear & Greed Index 

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