Stock Market Weekly update -Jun 30

  We closed out the week at around 5460 in the SPX, after hitting another new all time high (4th week in a row), tho we saw a 2nd weekly drop in NVDA, AVGO, MU & VRT.  TSLA was up 8% for the week. Like last week, with the Dollar rising, and stocks arguably near extremes, we could soon see a pause in this rally -the Nasdaq has already been flat for the past 2 weeks, and the Semis have dropped for 2 weeks. Once again, the S&P touched 5500 and the Nasdaq touched 20000, but they both reversed from those levels.

We ended the first half with the S&P 500 up 15.1%, and the Nasdaq up 19%. The market will be closed on Thu for the July 4th holiday, and on Friday we get the monthly Jobs report.

S&P 500 gain in first half of 2024 blows historical average ‘out of the water’



The Dollar -was up slightly
The 10 year Interest rate (4.34%)  -up a bit

Gold -mostly flat
Oil -up for a 3rd week
Bitcoin/Crypto -dropped for a 3rd week

What to Expect in the Markets Next Week - Jobs report on Fri
Schwab Weekly Trader's Outlook

Pops & Drops/5 day movers:  ALNY, RIVN  popped, 
...SAVA dropped, QCOM dropped for a 2nd week
Earnings:   FDX popped, MU, NKE, WBA dropped

New all time Highs:   ANET, ISRG, LLY, HLT, RCL, IRM, SFM, VITL
  -All time LOWS:   --

Percent of Stocks Above 50-Day Average ...up from 39 to 45% 

Top 100 Stocks To Buy

Next week:      
MonTueWedThuFri
Earnings:


Events:
, 
Jobs

Markets:

S&P 500 - Another new the all time high


Stocks last week +- 6% circled


Sectors last week - Energy led the way!









Market concerns:   Inflation? Wars? Anything?
Now over $34 Trillion in debt!  See Debt Clock below, or here... 


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

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

More charts: 


LLY - 8th week up! New all time high.


NVO -lots of overweight folks!



ANET -good climber!


WING -flying higher!



QCOM 'topping' Tail 



WBA -bad drugs??



NKE -bad sneakers??



LULU -bad yoga pants??



Key 'Levels' -week 2


The SPX again touched 5500 before pulling back last week

The Nasdaq again touched 20000 before pulling back last week




Bitcoin -recent Double Top 
More downside? Or do we find support in this area?


Links...

Comments

Post a Comment

Popular posts from this blog

Stock Market Weekly update -Apr 20

Image
  We saw lots of ‘chop’ last week, ending just below where we started, with tariff uncertainty still hanging over the market. The DOW lagged as it dumped on Thursday after UNH reported earnings. Long term rates pulled back a bit while Gold continued to rocket higher, closing near $3326. This week we get more earnings including GOOGL & TSLA,  04/06:  Hedging against losses… How? If you got ahead of the tariff announcement on Monday Mar 31st using an Inverse ETF like SQQQ (SPXS, SOXS, etc) , it was up approximately 30% that week! Note that Leveraged ETFs should only be used for short term trading. This week:   Schwab Weekly Trader's Outlook Edward Jones recap More earnings  This week: 3red week of earnings reports.  The market is still very volatile so caution is advised. The 10 year Interest rate -dropped a bit, now at 4.33% The Dollar - dropped a bit to 99.23 Gold - another big rally to $3326 Oil -rallied to $63.68 Bitcoin/Crypto   -rallied a ...
Read more

Stock Market Weekly update -Nov 24

Image
  The SPX recovered from the prior week drop, moving from 5870 to close on Friday at 5970. The other indexes also rallied, with the DOW closing at the prior all time high from 2 weeks ago. Long term Interest rates stayed mostly flat as the Dollar continued to rally. Gold had a big recovery rally. NVDA reported blowout numbers again, but the stock dropped! TGT tanked after earnings, still dropping since its peak in Aug 2021. WMT popped on earnings to another all time high (a DOW stock rallying like a tech stock since its bottom in May 2022) -this was its 4th earnings pop this year. This will be a short trading week because of the Thanksgiving holiday. This week:   Schwab Weekly Trader's Outlook   Market is closed on Thursday The 10 year Interest rate -flat at 4.4% The Dollar - rallying for 8 weeks now 107.5 Gold - rallied to $2715 Oil -rallied  to 71.10 Bitcoin/Crypto :  - another big rally to around 99.5k! New all time Highs :  WMT, BJ, COST, WFC, JPM,...
Read more

Stock Market Weekly update -Oct 27

Image
We saw a break in the 6 week SPX rally, closing near 5808, as the DOW also dropped & took back the prior 3 weeks of gains! The Nasdaq 100 rallied for yet another week, tho not by much. Semiconductors were mostly flat for the week, while Small-caps saw a big drop like the DOW. Long term Interest rates continued higher. TSLA popped on earnings, IBM, KO, CL dropped.  We’ll probably see some volatility this week with big tech  earnings, and the Jobs report on Fri. This week:   Schwab Weekly Trader's Outlook Monthly Jobs report/ Fri 3rd week of Earnings. The 10 year Interest rate -moved up again 4.23% The Dollar -was up for a 4th week 104.32 Gold - another all time high at $2748 Oil -up a bit 71.70 Bitcoin/Crypto :  - down a bit -around 67k New all time Highs :  PLTR, TMUS, PM, ICE, TTD, NDAQ, MSTR, DFS, CAVA, TXRH, EAT, BAM and more.       ALL time Lows :  – Pops & Drops/5 day movers :,   - Pops DJT (5th week), WU...
Read more