Stock Market update -May 10

We got a nice rally this week, with the market now seemingly heading back to the recent highs near 2950 on the SPX.
Super high unemployment numbers were reported (worst since 1929!), but the market rallied anyway... taking out the shorts?? Most of the big earnings reports are now behind us...

Bonds & Gold were flat, and Oil continued to recover from the earlier price disaster. 

Coronavirus live updates   Coronavirus maps
Coronavirus deals U.S. economy Great Depression-like job losses, high unemployment






S&P 500 market crash recovery (chart) ...rallied this week 

High yield Corporate Bonds (HYG) -holding up so far (2yr chart) 
Investment grade Corporate Bonds (LQD) -Fed recovery-(2yr chart) 

Market concerns:  Coronavirus... 
Pops:   MRNA
Drops:   

Over $25 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.



Unemployment claims 




Bonds  are flat-chart (link)
10yr rates are low (chart)


New all time highs:   CHGG, DOCU, ETSY, FTNT, MRNA, TWLO, W, WIX
All time lows:    

Options watch:   S&P 500 Implied Volatility  (CBOE VIX) -continuing to pull 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
EARNING:SPG, UAA
, CSCOAMATJD
Events:





This week's charts:


$NYA -NYSE Composite  -consolidating
 (IWM)   Small-caps -ditto



Links...
10yr Interest Rates  -still veery low
ETFs - Ranked by  Volume
S&P 500 Sector performance -Tech & Health care leading -Energy lagging

Crude Oil  rallied nicely again, closing near 24.36
Gold was flat, closing near 1708 -holding over $1700
The US Dollar was up a bit, closing near 99.79
The 30 year Bond was down, closing near 179.34

News:


Posted by 123Trader

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