Stock Market update -Jul 05

We got a nice rally this week, taking us up to the top of the recent range, and within a short distance of the gap from a few weeks ago near 3200. The Jobs report still shows a massive unemployment level (around 20 million), but the market celebrated with a big rally, as the data was better than expected?? We also are seeing huge increases in Coronavirus cases as well, but the market doesn't seem to care.


What was up this week: AMZN, SHOP, TSLA, and more
Gold could be set for a breakout from the recent trading range.
What was down this week: 

Coronavirus live updates   Coronavirus maps
The growth is exponential’ — Florida and Texas report surge of coronavirus cases 



S&P 500 market crash recovery (chart) ...rangebound?


High yield Corporate Bonds (HYG)  (2yr chart) 
Investment grade Corporate Bonds (LQD)  (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:   AMZN, DOCU, LOW, MSFT, NVDA, SQ, PDD, PYPL, ZM 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, TSLA...


Next week:     
MTWTF
EARNING:, , , WBA, 
Events:





This week's charts:




$NYA -NYSE Composite  -bounced off  support 
 (IWM)   Small-caps -ditto



Links...
10yr Interest Rates  -still veery low
Gold was up, closing near 1787 -approaching $1800
The US Dollar was up, closing near 97.16
The 30 year Bond was down, closing near 178.31

News:

x

Posted by 123Trader

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