Stock Market Weekly update -Apr 9th

 We ended the 1st week of April pretty much where we started in the SPX.  The DOW was up a bit, while the Small-caps were down a bit. Overall we have been trending 'up' in the Nasdaq since the beginning of the year, maybe aiming for the high we saw last Aug. First Republic bank (FRC) continued to lag near the bottom of the recent drop. The Regional Bank index (KRE) closed even lower since the initial drop 4 weeks ago!  But the VIX is approaching lows for the year!

We could see the S&P go either way next week, possibly still trying to get back up to the Feb high of around 4200, or maybe pulling back from this 4 week rally.  The expected move for next week is +- 80ish points on the S&P, which could take us to the 4200 level! 

The long term 'weekly downtrend' from the January 2022 high continues in the SPX (weekly 20MA line) tho its trying to turn back up.  We've been chopping around in a range since last April.  Less  likely now maybe, 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): -IWM pulled back last week.
The Dollar dropped for a 4th week. 10yr Interest rates dropped as well.
Gold rallied as did Oil. 
Bitcoin/Crypto was flat for a 3rd week.

The charts still look somewhat bullish (SPX, NDX).

Pops & Drops: 



S&P 500 -Rangebound? Box shows this week's expected range +-80.



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, Banks?
Over $31 Trillion in debt!  See Debt Clock on the left, or here... 

New all time highs:  HSY, MDLZ, AZN, PGR, NVO, WWE, 
-all time LOWS:  BBBY, SPCE, WE

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

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

Next week:      
MTWThuF
Earnings:
, 
DALJPM, WFC, C, BLK, PNC, UNH
Events:

CPIPPI

This week's charts: 


Regional Banks (KRE) -even lower last week






Links...

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