It was kind of a flat week for the SPX with a drop on Monday followed by a recovery. The Nasdaq 100 however didn't recover from that drop, while the Small Caps (IWM) recovered and then went even higher -crazy divergence in these markets. The SPX is now back up to the prior top we saw around Jun 8th-we'll see if it can take out that high. NFLX dropped after reporting earnings. And Covid cases continue to increase.
This week we get more earnings which will probably guide market direction. Last week we got the big banks, all with good reports except for Wells Fargo.
What was up this week:
What was down this week: NFLX -big tech saw a reversal on Monday
S&P 500 market crash recovery (chart) ...now at the Jun 8 resistance level
High yield Corporate Bonds (HYG) (2yr chart)
Investment grade Corporate Bonds (LQD) (2yr chart)
Market concerns: Coronavirus... Unemployment?
Pops:
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: AZN, ABT, MRNA, DHI, ISRG, NDAQ, PGR, TSM, YUMC, and more...
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... |
This week's charts:
$NYA -NYSE Composite -steady
(IWM) Small-caps -ditto
Links...
Gold was flat, closing near 1810 -now over $1800
The US Dollar was down a bit, closing near 95.91
The 30 year Bond was flat, closing near 179.75
News:
Posts
No comments:
Post a Comment