Stock Market update -Jul 1st

The pullback continued this week in the indexes, but the recent uptrend could still be intact. Next week we have the 4th of July holiday on Wednesday, and the Jobs report on Friday. We closed out the 2nd Quarter at a loss from the January peak so far (chart below). Basically we have been consolidating those gains for the past 5 months!

Oil rallied, while Gold pulled back. Bonds were up too.

Amazon shakes up drugstore business with deal to buy online pharmacy PillPack

 NKE popped on earnings
CMG dropped
SBUX continued to drop


This week -(link)


Over $21 Trillion in debt! See Debt Clock on the left, or here... 

New all time highs:  DRI, FOXA, NKE, WWE, and mostly light volume names
All time lows:   WIN, 

Options watch:   S&P 500 Implied Volatility rising?
CBOE VIX (Volatility Index) was up...  CBOE blogs  

Link to high IV stocks   
High Options volume:   
ETFs SPY, IWM, QQQ, GLD, GDX, USO, XOP, VXX, XLF, XLE, FXI, EEM EWZ, 
Stocks AAPL, AMD, BAC, BABA, FB, MU, NFLX, NVDA, TSLA

Next week:   Jobs report on Friday -4th July Holiday Wednesday
Earnings:    
This week's charts:




FAANNG stocks & SPX (link) -pulled back from their highs


Links...
S&P 500 - pullback
Gold dropped again, closing near 1254 -still below $1300
The 30 year Bond was up a bit, closing near 144
The US Dollar  was flat, closing near 94.21

NEWS
Expect a ‘choppy’ July before an end-of-year market blowout, Blackstone's Zidle says

Posted by 123Trader

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