Stock Market Weekly update -May 14th

 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. 
Bitcoin/Crypto dropped.

The charts are showing pullbacks in the indexes after the recent rally, except for the Nasdaq which has been moving up for 3 weeks!.

Pops & Drops: FSLR, FLEX popped


S&P 500 -falling from the top of the recent rally... Box shows this week's expected range +-48.
The Blue line shows the Feb high of around 4200 



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

New all time Highs:   LLY,GIS, ORLY, PEP, PLTE,
-all time LOWS:    BYND, LYFT, PTON, 

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

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

Next week:      
MTWThuF
Earnings: , HD, BIDUTGT, TJX, CSCO, WMT, ROST, BABA, AMAT,DE, FL
Events:





This week's charts: 



One-time favorites -now at All Time Lows!

Links...

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