Stock Market Weekly update -Dec 17th

The SPX rallied for a 7th week, closing just above 4700, now pretty much back at the Jan 2022 highs (indexes), the level where the 2022 bear market started.  We got a huge move up on Wed after the Fed indicated rate cuts coming in 2024. Long term rates plunged as well, now just under 4%. The Homebuilders pumped higher for yet another week, hitting another all time high!

What to Expect in the Markets Next Week - PCE on Fri .

Bonds rallied (rates dropped) on the Fed news.
The Dollar -continues the 7 week down trend 
Gold was up a bit, after the huge prior week pop & drop.
Oil recovered a bit after dropping since late Sep. Could see some support here.

Bitcoin/Crypto was down a bit, but closed above 42000. 
CoinMarketCap -Crypto prices 

Pops & Drops/5 day movers:  COST popped to yet another all time high after earnings!
Lots of big movers last week after the Fed.
ADBE & ORCL dropped after earnings.

New all time Highs:  ANET, ARM, AVGO, KLAC, PANW, COST,  MAR, OC, REGN, VRTX,  Homebuilders: DHI, LEN, PHM, TOL
   -All time LOWS:   --
Percent of Stocks Above 50-Day Average ...up from 74% to 79%


S&P 500 - another rally week -now near the Jan 2022 high (below)


Now almost back at the Jan 2022 highs, before the 2022 drop.





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! 
Now over $33 Trillion in debt!  See Debt Clock below, or here... 


Options watch:   
ETFs SPY, IWM, QQQ, SQQQ/TQQQ, XLF, XLE,  EEM, VIX

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

Next week:      
MTueWThuF
Earnings:, FDX, GIS, MUNKE
Events:


This week's charts: 



Long term Interest rates (10yr) have crashed over the past few weeks


12/10: Sector view 60 days


12/10: Crypto on the move!




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

News:
Dow hits record high as stocks cap longest weekly winning streak since 2017

SEC rejects Coinbase’s request for a separate regulatory framework for the cryptocurrency industry
24/7 Wall St.
Fear & Greed Index 

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