Stock Market Weekly update -Feb 4th

Another week, another rally, as the SPX approaches the 5000 level. We saw a drop after the Fed meeting on Wednesday, then a huge reversal rally the following day, and another rally on Friday after Meta reported earnings and popped 20%. We also got a super strong Jobs report on Friday morning. The small caps continued to lag. 

10 year Interest rates rallied on Friday after the Jobs report, as expectations were reduced for Fed rate cuts.

What to Expect in the Markets Next Week - more earnings

Bonds -10yr dropped a bit to 4.03
The Dollar -rallied for a 5th week
Gold rallied
Oil dropped
Bitcoin/Crypto -still mostly flat for 6 weeks now

Pops & Drops/5 day movers:  META, NVDA, SMCI, AMZN, popped on earnings

AAPL, GOOGL,  UPS, TEAM, dropped on earnings. NYCB bank dropped

New all time Highs:  META, NVDA, SMCI, UBER, BSX, MRK, WMT, CAT, TJX, AXP, AMGN, TRV, LLY, ANET, COST, ANF,  DKS, WM, and more...
 -All time LOWS:   PTON, AMC, 

Percent of Stocks Above 50-Day Average ...dropped to 52.7%

S&P 500 - another weekly rally!


Percent of stocks above the 50MA is dropping, as the S&P is rallying!



Small-caps -lagging far behind




DOW -leading up

S&P500

NASDAQ


1/1/23:  Indexes vs Pre-Covid early 2020 highs -the DOW already got there & reversed




1/6/24:  Indexes -double tops?





Market concerns:   ?
Now over $34 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:MCD, CAT, PLTR,  AMGN, LLY, GILD, BP DIS, BABA, UBER, CVS, ARM, PYPLCOPPEP
Events:




This week's charts: 
 Pre-Covid highs -link (Oct 2022 charts) -Stocks reversed from here!



Links...

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