Stock Market Weekly update -Aug 20th

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.

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 companies dropped
New all time Highs:  -
  -all time LOWS:    CHPT




With any luck, we'll see a double top in 10yr interest rates here


S&P 500 - Still dropping after reaching the March 2022 high ('Weekly' chart)




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? US Credit downgrade?
Over $32 Trillion in debt!  See Debt Clock on the left, or here... 


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

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

Next week:      
MTueWThuF
Earnings: , LOWNVDADLTR, RY, TD
Events:





This week's charts: 

 2023 1st Half returns -Indexes




LLY popped on earnings 2 weeks ago
Seems a little stretched here at 44x book value, like AAPL was!


AAPL recent 3 week drop


Markets dropped for a 3rd week



Links...
ETFs performance - Ranked by  Volume
S&P 500 Sector performance 

News:
Stocks crawl back to close rough week on mixed note: Stock market news today

Mortgage rates could hit 8%, economists say, citing a worrying sign not seen since the Great Recession
24/7 Wall St.
Fear & Greed Index 

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