Stock Market update -May 31

Mostly flat this 4 day week after we got a weekend pop on Sun/Mon night. The Nasdaq 100 closed near the all time highs, recovering pretty much all the losses from the Coronavirus pandemic selloff! If we push higher this week, we will probably see 3100 on the SPX. 

Lots of divergence on the indexes, with the Nas100 near all time highs, while the Small Caps and broader NYA are still struggling near a recovery of only 50%.

Bonds & Gold were still sort of in a trading range, and Oil continued to recover a  bit higher. 

Coronavirus live updates   Coronavirus maps





S&P 500 market crash recovery (chart) ...broke out higher 

High yield Corporate Bonds (HYG) -moving higher (2yr chart) 
Investment grade Corporate Bonds (LQD) -Fed recovery-(2yr chart) 



Full recovery in the Nasdaq 100




The 'broader' NYA index still has a long way to go...


Market concerns:  Coronavirus... Unemployment, Nationwide race riots
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:   DOCU, DG, LULU, PDD, PYPL, SPLK, TSCO, VEEV, ZS, and more...
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:, ZM, , AVGO, DOCU
Events:





This week's charts:


$NYA -NYSE Composite  -broke out & up this week 
 (IWM)   Small-caps -ditto



Links...
10yr Interest Rates  -still veery low
Gold was up, closing near 1751 -holding over $1700
The US Dollar was down a bit, closing near 98.12
The 30 year Bond was down, closing near 178.06

News:


Posted by 123Trader

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)