Stock Market Weekly update -Sep 8

We closed near 5408 on the SPX around 250 points lower than the prior week's close -a monster move down! The prior week we only saw a 2 point change for the entire week. The DOW and the NYA fell from all time highs. NVDA dropped for a 2nd week. Semiconductors seem to have rolled over into a continuation downtrend from the early July top, after seeing a brief 2 week recovery from the Aug 5 bottom. We finally saw the much anticipated inversion in the yield curve as the 10 year rate dropped to 3.71%.  OIL dropped to a 52 week low! 

After this large drop last week in the SPX from a double top level, we could be looking at another short term downtrend in the weeks ahead. Next week we get another CPI report, a possible market mover.

Next week:  Schwab Weekly Trader's Outlook


CPI/PPI report



The 10 year Interest rate -down to 3.71%

The Dollar - dropped a bit!

Gold -dropped a bit 

Oil -dropped  again

Bitcoin/Crypto:  -dropped again! -10% last week 


New all time Highs: PG, TRV,,,   ALL time Lows:  SNOW

Pops & Drops/5 day movers: ,,, 

Earnings movers:,   AVGO, ZS, DLTR, DKS, dropped


Percent of stocks above the 50 day Moving Average: dropped from 66 to 44%

Percent of S&P 500 stocks above the 50 day Moving Average: dropped from 81 to 58%


Top 100 stocks to buy  


Next week:     …new down trend?


Mon

Tue

Wed

Thu

Fri

Earnings

ORCL, 

, 


ADBE


Events



CPI

PPI




Markets:



SPX: Missed the All Time High -now heading back down? 



SMH -Semis in a downtrend??





Stocks last week -Semis lost





Sectors last week -Financials led





Market concerns:   Inflation? Wars? Elections? Debt?  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:



Personal interest payments have crossed $500 billion




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
S&P 500 tumbles Friday to post worst week since 2023, Nasdaq drops 2% for worst week since 2022

CAUTION: Personal interest payments have crossed $500 billion

Goldman Reveals Shocking Collapse In Visits To Chat-GPT Website


Crypto:  

Largest Japanese Banks to Use SWIFT-Linked Stablecoin System for Cross-Border Payments

Mastercard’s Crypto Debit Card Integrates With Apple, Google Pay

September Crypto Crash Wipes Out $170B, Bitcoin and Ethereum Take the Biggest Hit


A Deep Dive Into the Top 10 L1 Chains by Daily Transfer Records


24/7 Wall St.

Fear & Greed Index 


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