TradingSense

  The Nasdaq100 led a big market rally again last week, fueled mostly by the huge spike in NVDA after reporting earnings, along with other AI related stocks which all rallied! Despite the huge Nasdaq100 rally, the DOW was actually down for the week, and Small-caps are near the lows for the year!  This week's big event will be the Debt Ceiling talks, and maybe the monthly Jobs report on Friday. Markets are closed on Monday. A further S&P500 rally could take us to the next level of around 4300, the August high. The  Dollar rallied for a 3rd week, as Bonds dropped again, ahead of the Debt Ceiling resolution. Debt-ceiling deal reached in principle by Biden and McCarthy, vote could come early next week The long term  'weekly  downtrend '  from the January 2022 high in the SPX  (weekly 20MA line)  has  turned back up.   We've been chopping around in a range since  April 2022.    Less  likely now maybe, but this wee...

  The Nasdaq 100 led a big market rally last week, taking out the Aug 2022 high, even with the Dollar rallying. Small-caps and the DOW are lagging. We'll see if this big-cap tech rally will hold next week. The Debt Ceiling issue will probably swing markets one way or the other. The long term  'weekly  downtrend '  from the January 2022 high in the SPX  (weekly 20MA line)  has  turned back up.   We've been chopping around in a range since  April 2022.    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): -up a bit last week. The  Dollar  - rallied again!  10yr Interest rate was up as well! Gold dropped,  Oil  was mostly flat. Bitcoin / Crypto  was flat. What to Expect in the Mark...

 The markets dropped a bit last week, with huge swings in between, except for the Nasdaq which was was up a bit.  Small-caps continue to lag, mostly because of the Regional bank issues. So we continue to chop around near the high end of the recent rally. This week we get earnings from the Retailers, along with a few Housing reports . The long term  'weekly  downtrend '  from the January 2022 high in the SPX  (weekly 20MA line)  has  turned back up.   We've been chopping around in a range since  April 2022.    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): -down for a 3rd week. The  Dollar  - rallied!  10yr Interest rate was flst. Gold was flat,  Oil  dropped for a 4th week....