Stock Market Weekly update -Aug 4

   We closed out the week at around 5346 on the SPX, making it 3 weeks in a row of seeing big drops! Likewise for the Nasdaq100 and the Semis. The DOW and Small-caps finally rolled over, showing huge drops for the week as well. AMZN saw a big drop after reporting earnings, having already dropped for the 3 consecutive weeks prior, likewise for MSFT and QCOM. INTC plunged, after already dropping all year. MCD rallied all week! The disappointing monthly Jobs report on Friday helped fuel the selloff. We also saw a big drop in the 10yr interest rate to below 4%.


This pullback from all time highs has been deep and fast, so we could see a bounce this week, but then later could also come under further pressure -time will tell. Could be a time to look at hedging one’s portfolio, with the Nasdaq now down 10%. Big earnings are mostly out of the way now except for NVDA, and the next Fed meeting isn't till September. 

 


Next week:  Schwab Weekly Trader's Outlook


…slow week? No major events.



The 10 year Interest rate -big drop to 3,79%

The Dollar -also dropped

Gold -rallied, approaching 2500

Oil -dropped for a 3rd week

Bitcoin/Crypto:  dropped, after a big rally the week before


New all time highs:  AJG, KO, CL, DUK, ED, SO, LMT, ABBV, AZN, REGN, MMC, UNH and more…  ALL time lows:  SAVE, TDOC, U, and others.

Pops & Drops/5 day movers:  

Earnings movers:  MCD  popped,  

-MRK, ARM, MSFT, QCOM, AMZN, INTC, MRNA, dropped


Percent of stocks above 5- day Moving Average: dropped from 69 to 49% 

Top 100 stocks to buy  


Next week:     …maybe we see a bounce?


Mon

Tue

Wed

Thu

Fri

Earnings

PLTR, 

AMGN, CAT, UBER, 

CVS, DIS, LYFT, OXY, SHOP,

LLY, GILD, UA, 


Events







Markets:


SPX: We could see good support in this 5300 area



Stocks last week



Sectors last week




Market concerns:   Inflation? Wars? Anything?

Now over $35 Trillion in debt!  See Debt Clock below, or here... 


Options watch:   

High IV (Implied Volatility) stocks -link   

High Options volume:   (most active link, or here)

ETFs

SPY, IWM, QQQ, SQQQ/TQQQ, SMH, XLF, XLE, VIX

Stocks

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



More charts:




Intel has worst day on Wall Street in 50 years, falls to lowest in over a decade





Links...

10yr Interest Rates
Labor Force Participation Rate
 U.S. Initial Jobless Claims
ETFs performance - Ranked by  Volume
 S&P 500 Sector performance
 Commodities / Futures
 Crypto

News
Dow closes down 600 points, Nasdaq enters correction after weak jobs report

Tech stocks see steepest three-week slump in two years, led by plunge in Amazon and Intel
Stocks drop, Nasdaq confirms correction as recession fears mount

Dollar hits four-month low as weak US jobs data boosts rate cut bets
Warren Buffett’s Berkshire Hathaway sold nearly half its stake in Apple

Mortgage rates plunge to the lowest level in more than a year after weak employment report


Crypto:  

Morgan Stanley wealth managers to embrace BlackRock, Fidelity Bitcoin ETFs

Bitcoin price loses $60K, but a maturing Wyckoff signal gives hope

Institutional tokenization will propel Web3 forward — Jason Dehni


24/7 Wall St.

Fear & Greed Index 

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