Stock Market Weekly update -Jun 11th

 The Nasdaq100 was mostly flat last week, while the S&P 500 and the Small-caps rallied. We made it up to that 4300 level mentioned last week in the SPX (the August high) . We could run into some resistance this week near that level.  Potential market movers: Fed, CPI, Qtr Options Expiration.

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, and now trying to break above that range.  Less  likely now maybe, but this weekly trend could also eventually take us back down to the pre-Covid highs of early 2020. The DOW & the Small-caps already touched that level and rallied back up (see pics below). 

NYA (NYSE composite) & IWM (small-caps): -up again last week.
The Dollar -was down a bit. 10yr Interest rate was up a bit.
Gold up a bit, while Oil was down a bit.
Bitcoin/Crypto was down slightly.


What to Expect in the Markets Next Week - Fed, CPI, Options Ex/Qtr.
Pops & Drops/5 day movers:  SOFI, MVIS & others popped!
New all time Highs:   ORCL, ON, SMCI, KLAC, JBL,   -all time LOWS:   TLRY, 

S&P 500 - we made it to the Target line -decision time now.
 The pink Box shows this week's expected range +-54.
The Blue target line shows the Aug high of around 4300 




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

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

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

Next week:      
MTWThuF
Earnings: ORCL
ADBE, 
Events:





This week's charts: 



5/28: S&P vs DAX vs Japan


Links...

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