Stock Market Weekly update -Jul 16th

 We got a big pop last week, breaking out above a resistance area of around 4450 and closing around 4405 on the SPX. The weekly uptrend continues in the SPX & the Nasdaq100. However the Nasdaq100 will undergo a rebalancing this weekend, which could affect this Index & individual stocks going forward.

Upcoming earnings this week will probably let us know whether we go even higher, or stall in this area. We get more earnings from the Banks & from some DOW companies, also NFLX, TSLA, and more. We also have July Options Expiration on Fri, along with VIX futures expiration on Wed.

The Dollar -tanked! Likewise, the 10Yr Interest rate dropped!

Gold and Oil rallied, like equities, as the Dollar dropped.

Bitcoin/Crypto -still flat for a 3rd week after the big rally.

Pops & Drops/5 day movers:  Crypto stocks popped, 
New all time Highs:   CBOE, NVDA, ON, FTNT, SMCI, MA, DHI & homebuilders, 
    -all time LOWS:    CGC, 

S&P 500 - down for the week
 The pink Box shows this week's expected range +-50




6/18 S&P500: Next move?? Another RSI signal here?



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? Interest rates?
Over $32 Trillion in debt!  See Debt Clock on the left, or here... 

Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -up a bit -still near 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: BAC, SCHW, MS, LMTBIIB, GS, IBM,  NFLX, TSLA, JNJ, TSM, TRV AXP
Events:





This week's charts: 


5/28: S&P vs DAX vs Japan

Japan now...



 2023 1st Half returns -Indexes


7/09: Bonds dropping = Interest Rates going up


SPCE -rocketed up 3 times...


SMH -Semi-conductors double topping?


US Dollar -big drop last week


META -huge recovery

Links...

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