Stock Market update -Apr 12

Big rally this week as we recover from the gigantic drop we saw in March! We're still in no mans land here, and could go either way this week. Longer term, we've seen a lot of damage to the multiyear up-trend...

The Coronavirus continues to wreak havoc in New York and other cities, though we may be seeing it start to taper off...

The government continues to throw even more trillions in money at this problem...
The 30 year Bond was mostly flat, as Oil recovered a bit, as did Gold.



S&P 500 market crash recovery (chart)
...may be topping here?

High yield Corporate Bonds recovered a bit (5yr chart) 

Market concerns:  Coronavirus... low Oil prices... debt...
Pops:   
Drops:   

Over $23 Trillion in debt!  See Debt Clock on the left, or here... 

I expect in time we will see this skyrocket with all the new debt being added.


S&P 500 chart  -nice rally -still indecision at this level
Bonds   -chart (link)
10yr rates  (chart)


New all time highs:   AMT CHWY DLR
All time lows:  ...  

Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -pulling back!
ETFs SPY, IWM, QQQ, GLD, GDX, USO, XOP, VXX, XLF, XLE, FXI, EEM EWZ, 

Stocks AAPL, AMD, BAC, BABA, DIS, FB, MU, NFLX, NVDA, ROKU, TSLA...


Next week:     
MTWTF
Events:

Earnings:
JNJ, JPM, WFCBAC, C, MS, GS, PNC, UNHABT, ISRG, RAD

This week's charts:


$NYA -NYSE Composite  -nice rally this week

 (IWM)   Small-caps -ditto!


Links...
10yr Interest Rates  -still veery low
Gold rallied, closing near 1740 -now above 1700!!
The US Dollar was down a bit, closing near 99.61
The 30 year Bond dropped further, closing near 178.43

News:
16 million people just got laid off but U.S. stocks had their best week in 45 years

U.S. coronavirus deaths top 20,000, highest in world exceeding Italy: Reuters tally

Posted by 123Trader

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