It was a bearish week for US equity indexes, with net weekly declines ranging from -6.2% (Trans), -4.2% (NYSE comp'), -4.0% (R2K), -3.0% (Dow), -2.0% (SPX), to -1.2% (Nasdaq comp').
Lets take our regular look at six of the main US indexes (monthly candle charts)
sp'500
Nasdaq comp'
Dow
NYSE comp'
R2K
Trans
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Summary
All six US equity indexes were net lower for the week.
The 'old leader' - Transports, lead the way down, whilst the Nasdaq was most resilient.
More broadly, five of six indexes are trading above their respective monthly 10MA, the exception being the Nasdaq.
All six indexes have positive monthly momentum, but momentum is weakening, and due to turn negative, starting with the Nasdaq and SPX
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Looking ahead
Earnings:
M - $ZIM $BETA $DDD $FCEL $ACCO $UMAC $GNS $NYAX $KFY $SBET $CASY $HPE $VOYG $ZVRA $KRO $MTN $LFMD $YEXT $RPAY $RAIL
T - $NIO $KSS $ABM $UEC $PRTH $UNFI $BNTX $INSE $LEGN $GBLI $ORCL $AVAV $AUNA $ASM $FNV $EVLV $KDK $JOYY $INR $LDI
W -$SERV $CPB $CXM $KMDA $OPFI $SDHC $RERE $CVGI $BWAY $BWEN $PATH $NTSK $SFIX $ASTL $DSGX $DSP $BMBL $WOOF $MRMD $NVGS
T - $DKS $LI $DG $SNBR $ALH $GIII $FUTU $LCUT $HYFT $SGA $ADBE $RBRK $S $NKTR $ULTA $TTAN $WPM $GDOT $VERI $HCAT
F - $EVEX $KYIV $CREX $BETR $ACXP $CNTY $VEON
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Econ-data/events
M -
T - NFIB optimism, existing home sales
W - CPI, US T-budget (2pm)
T - Weekly jobs, Intl' trade, housing starts, building permits,
F - Q4 GDP (print'2), Pers' income/spending, PCE, durable goods orders, JOLTS, consumer sent'.
*Friday will be a thirteenth. Open Day @ https://www.subscriber.tradingsunset.com
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Final note
Those naive partisan fools who believed the war would last a mere day or two, are starting to realise it will last weeks... if not months. Such war hungry psychopaths are no doubt hoping for news that ground troops will be deployed.
Oil has already printed the $92s, set for giant psy' $100, perhaps this coming Monday. More broadly, oil appears due far higher levels, to take out the July 2008 hist' high of $147. $200 oil is no longer to be seen as Krazy talk.
It should be clear the global economy won't do well with a massive ramp in energy prices, never mind possible outright shortages, with the threat of 'energy lockdowns'.
The probability of a March 18th rate cut has jumped, not least after lousy jobs data. El Presidente's recent notion that Q1 GDP might print 4 or 5%, was always pure fantasy land. How long until the mainstream cheerleaders and 'smart guys', start speculating about a 'mild recession' ?
Wild, scary, and ever more bizarre times are now underway. If anything, we should order more popcorn, for what is episode 3 of season 2026 of 'Planet Krazy'.
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Have a good weekend
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EST on Monday.
