TradingSense

Like the prior week, the market dropped, then recovered on Friday with a huge unexpected rally. Small-caps continue to lag, mostly because of the Regional bank issues. We continue to chop around in a range over the past few months. This week we get the CPI report which could move markets in either direction. The long term  'weekly  downtrend '  from the January 2022 high in the SPX  (weekly 20MA line)  has  turned back up.   We've been chopping around in a range since  April 2022.    Less  likely now maybe, but this weekly trend could also eventually take us down to the pre-Covid highs of early 2020. The DOW & the Small-caps have already touched that level and rallied back up (see pics below).   NYA (NYSE composite) & IWM (small-caps): -slightly down. The  Dollar  - dropped a bit . 10yr Interest rates also dropped. Gold was up,  Oil  was down.  Bitcoin / Crypto  was mostly flat. What t...

  The market dropped for 2 days, then rallied for 2 days, closing higher for the week as t he VIX continued to drop lower. As we close out April, this makes 2 consecutive monthly 'up' moves in the SPX so far.  The SPX & NDX remain in a 'weekly' bullish trend. Small-caps on the other hand look bearish.  AAPL reports  earnings  next week. Also n ext week we get the Fed on Wed and the monthly Jobs report on Fri, along with other economic reports during the week, all of which 'could' change market direction.  The FDIC finally reported late on Friday evening  that it would take over  First Republic Bank .  The long term  'weekly  downtrend '  from the January 2022 high in the SPX  (weekly 20MA line)  has  turned back up.   We've been chopping around in a range since  April 2022.    Less  likely now maybe, but this weekly trend could also eventually take us down to the pre-Covid highs ...

  The market was flat to slightly down last week, pausing the 5 week rally.   The KRE index continues to hold near the lows, following the Regional Bank   crash in early March .  The VIX held near the lows last seen in Dec 2021! Big Tech earnings this week, along with many others. TSLA dropped after reporting last week.  The expected range for next week on the S&P is +-55. The long term  'weekly  downtrend '  from the January 2022 high in the SPX  (weekly 20MA line)  is trying to turn back up.   We've been chopping around in a range since  April 2022.    Less  likely now maybe, but this weekly trend could also eventually take us down to the pre-Covid highs of early 2020! The DOW & the Small-caps have already touched that level and rallied back up (see pics below).   NYA (NYSE composite) & IWM (small-caps): -flat week. The  Dollar   stalled after a  5 week drop . 10y...