TradingSense

The SPX and Nasdaq finally recovered a bit after 3 weeks of selling. The DOW & Small-caps did not recover, but instead sold off some more. The Dollar rallied for a 6th week, keeping the pressure on equities. NVDA popped after earnings, but then gave it all back, leaving somewhat of a Tail bar at the high, on the weekly chart. Prior week update: DIS is   below the Covid lows   seen in 2020, as is MMM, WBA, and VZ, all DOW stocks!  This week: all dropped further last week except for VZ. Also,  Retailers are mostly weak (exc WMT):  chart What to Expect in the Markets Next Week  - Monthly Jobs report, PCE report  The  Dollar  - was up for a 6th week!  Likewise for the 10Yr Interest rate. Gold  was up, while  Oil   was down for a 2nd week, after a 7 week rally! Bitcoin /Crypto  was mostly flat. Pops &   Drops/5 day movers :  AFRM popped,  AMC, DKS, FL, DLTR, M, JWN, ULTA, TGT, HE dropped New all time...

We saw a 3rd week down in the SPX, bigger than the prior week's selloff, making for an ugly August so far -all the 2023 bulls have been under pressure now as we closed out October Options expiration last week.  AAPL dropped for a 3rd week as well, falling back to the Aug highs of 2022. MSFT & TSLA have been dropping for 5 weeks. DIS is below the Covid lows seen in 2020, as is MMM, WBA, and VZ, all DOW stocks!   This week we get earnings from more Retailers, and the Fed Jackson Hole meeting. We could be near a support level here and start to see some relief from the 3 weeks of selling. What to Expect in the Markets Next Week  - Fed/Jackson Hole,  The  Dollar  - was up for a 5th week!  Likewise for the 10Yr Interest rate. Gold  was down again, while  Oil   was down slightly, after a 7 week rally! Bitcoin /Crypto  saw a mini crash. Pops &   Drops/5 day movers :  X popped,  HE plunged further, crypto compani...

We saw a 2nd week down after getting more earnings reports, and the CPI & PPI reports. In the DOW index,  LLY popped, and UPS dropped after earnings, while AAPL slid for a 2nd week. SMCI also dropped from an all time high. This week we get earnings from the Retailers. Going forward, we could see a relief rally from the past 2 weeks of selling, but after this 6 month historic run, the market could be taking a break here from reaching higher highs. What to Expect in the Markets Next Week  - ,  The  Dollar  - was up for a 4th week!  Likewise for the 10Yr Interest rate. Gold  was down again, while  Oil   was up slightly, for a 6th week! Bitcoin /Crypto  -mostly flat Pops &   Drops/5 day movers :  LLY popped, UPST saw a huge drop.  New all time Highs :    CBOE,  MPC, NE   -all time  LOWS :     S&P 500  - Dropped for a 2nd week -' Weekly' chart S&P 500  - Dropped ...