Stock Market update -May 24

We had a huge overnight rally on Sunday, followed by mostly sideways action the rest of the week. Seems like most of the market movement lately occurs in the overnight session! 
We closed the week on the SPX around 2950, the high of the recent trading between 2800 and 2950. We'll see what next week brings -finally a breakout, or fall back into the trading range?

This week Hertz filed for bankruptcy,
Bonds & Gold were still sort of in a trading range, and Oil continued to recover a  bit higher. 
Stock-market traders brace for ‘dogfight’ as S&P 500 lingers below its 200-day moving average

Coronavirus live updates   Coronavirus maps
Coronavirus update: U.S. death toll approaches 100,000... 





S&P 500 market crash recovery (chart) ...top of the range 

High yield Corporate Bonds (HYG) -rallied this week (2yr chart) 
Investment grade Corporate Bonds (LQD) -Fed recovery-(2yr chart) 

Market concerns:  Coronavirus... Unemployment
Pops:   
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.


New all time highs:   BJ, LULU, MDB, NVDA, OKTA, SHOP, SPLK, TWLO, WIX. and more...
All time lows:    LK

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:AZO, , , COST, DLTR/DG, ULTA
Events:





This week's charts:


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



Links...
10yr Interest Rates  -still veery low
ETFs - Ranked by  Volume
S&P 500 Sector performance -

Crude Oil  rallied nicely again, closing near 33.56
Gold dropped a bit, closing near 1734 -holding over $1700
The US Dollar was down a bit, closing near 99.80
The 30 year Bond was down a bit, closing near 180.06

News:


Posted by 123Trader

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