Stock Market Weekly update -Dec 3rd

 The SPX rallied for a 5th week, closing around 4595, pretty much at the July 2023 highs (indexes). This level could provide some resistance here, time will tell... maybe we get a Santa rally, maybe not. Bonds saw a huge rally for November (biggest in over 35 years!), sparking the big November stock rally.

The Magnificent 7 dropped a bit last week, possibly indicating some rotation in the market. 

What to Expect in the Markets Next Week - Jobs report .

The Dollar -dropped for a 5th week, as stocks rallied for a 5th week! 
The 10Yr Interest rate saw a big drop! -now at a possible support level

Gold was up big, while Oil dropped a bit.
Bitcoin/Crypto was up again, crossing above 39000.

Pops & Drops/5 day movers: CRWD, CRM DLTR, PATH, popped on earnings.
IMGN popped 82% on news of being acquired by ABBV.
Also saw big moves on AFRM, BIG, OPEN, GME, 
, 
New all time Highs:  CBOE, FICO, PANW, PSX, BSX, CAH, V, PGR, PHM, TOL, SKX, 
   -All time LOWS:   FSR, --
Percent of Stocks Above 50-Day Average ...moved up from 66% to 74%


S&P 500 - another rally week -finally made it to the July high




Small-caps -popped on Friday, but still lagging from the July highs




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:, , , 
Events:

Jobs report

This week's charts: 



AbbVie to acquire ImmunoGen in $10B deal


Bonds (rates) -Oct2022, Oct2023 bottoms?



Mag7 showing some weakness last week?


DOW showing strength last week??



Links...

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