Weekend update - US equity markets

It was a bullish month for most US equity indexes, with net monthly changes ranging from +2.6% (Transports), +2.1% (NYSE comp'), +1.9% (Dow), +0.5% (SPX), to -1.5% (Nasdaq comp'). Near term outlook threatens some cooling into mid June.

Lets take our regular look at five of the main US indexes

sp'500

Nasdaq comp'

Dow

NYSE comp'

Trans

–

Summary

Four US equity indexes saw net monthly gains, whilst one settled lower.

The Transports lead the way higher, whilst the Nasdaq comp' was sig' lower.

The SPX, Dow, NYSE comp', and Transports broke new historic highs.

All five US equity indexes settled May above their respective monthly 10MA, and I thus see the m/t trend as bullish.
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Looking ahead

It will be a short four day trading week, with Monday CLOSED for Memorial day. 

Earnings:

M - *CLOSED*

T - CGC, ZM, HPE, AMBA

W - LE, SPLK, PVH

T - DLTH, CRWD, DOCU, AVGO, LULU, FIVE, WORK

F - -

-

Econ-Data:

M - *CLOSED*

T - PMI/ISM manu', construction

W - Vehicle sales, Fed Beige book (2pm)

T - ADP jobs, weekly jobs, EIA Pet', productivity/costs, PMI/ISM Serv'

F - Monthly jobs, factory orders

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Day two of summer warmth

 

Final note

With the SPX breaking a new hist' high of 4238, it was just another month for the equity bulls. There is ongoing background crash calling, but its from the usual suspects, and its to be dismissed as just 'crazy talk'.

A washout to around sp'4000 wouldn't be a surprise by mid June, but from there... renewed upside into Q2 earnings in July.

Yours truly has bigger priorities right now than Twitter and my public Blogger page. However, that doesn’t mean I’m not providing intraday coverage to my subscribers. For charts, and whatever else I want to post about…. you know where to find me in... the twilight zone.

 

If you value my work, subscribe to my intraday service.
For details, and the latest offers: https://www.tradingsunset.com

Enjoy the long weekend

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*the next post on this page might appear by 5pm EST, Tuesday June 1st.

Weekend update - US equity indexes

It was a bearish week for most US equity indexes, with net weekly changes ranging from -2.8% (Transports), -0.5% (Dow), -0.4% (SPX), -0.2% (NYSE comp'), to +0.3% (Nasdaq comp'). Near term outlook threatens another cooling wave.

Lets take our regular look at five of the main US indexes

sp'500

Nasdaq comp'

Dow

NYSE comp'

Trans

–

Summary

Four US equity indexes were net lower for the week, with one net higher.

The Transports lead the way lower, with the Nasdaq comp' resilient.

More broadly, all five US equity indexes are trading above their respective monthly 10MA, and I thus see the m/t trend as bullish.

Ytd perform'

The Transports remains the leader, currently net higher for 2021 by +23.7%. The NYSE comp' is +12.7%, with the mighty Dow +11.8%. The SPX is +10.6%, with the Nasdaq comp' lagging, +4.5%.

–

Looking ahead

Earnings:

M - RIDE

T - AZO, CBRL, URBN, ZS, TOL, JWN

W - LI, DKS, ANF, CPRI, NVDA, SNOW

T - BBY, DG, DLTR, BURL, CRM, COST, GPS, HPQ, ULTA, DELL

F - BIG

-

Econ-data/events

M -

T - Case-Shiller HPI, consumer con', new home sales

W - EIA Pet' report

T - Weekly jobs, GDP Q1 (print'2), Durable goods orders, pending home sales

F - Pers' income/outlays, Intl' trade, Chicago PMI, consumer sent'

As Friday May'28th is the last trading day of the month, ahead of the three day Memorial Day/holiday break, I would expect considerable chop, on lighter vol', as many will turn off their screens.
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Final note

Whilst next week threatens lower lows, the m/t trend remains comfortably intact. A foray to around sp'4K with the Nasdaq testing the 200dma in the 12500s, would not merit anyone proclaiming a key m/t top is in.

Yours truly has bigger priorities right now than Twitter and my public Blogger page. However, that doesn’t mean I’m not providing intraday coverage to my subscribers. For charts, and whatever else I want to post about…. you know where to find me in... the twilight zone.

--

If you value my work on Blogger, Twitter, and want more of the same, subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Have a good weekend

--

*the next post on this page will likely appear 12pm EST, Sat' May 29th.

Weekend update - US equity indexes

It was a bearish week for US equity indexes, with net weekly declines ranging from -2.3% (Nasdaq comp'), -1.4% (SPX), -1.1% (Dow, NYSE comp'), to -0.1% (Transports). Near term outlook threatens further cooling.

Lets take our regular look at five of the main US indexes

sp'500

Nasdaq comp'

Dow

NYSE comp'

Trans

–

Summary

All five US equity indexes were net lower for the week.

The Nasdaq lead the way lower, whilst the Transports was very resilient.

The Dow, NYSE comp', and Transports broke new historic highs.

More broadly, all five US equity indexes are holding above their respective monthly 10MA, and I thus see the m/t trend as bullish.

–

Looking ahead

A lighter week is ahead, which will give the market some time to get twitchy about inflation and higher yields/rates.

Earnings:

M - CLOV, NIU, PRPL, RIDE, TWNK, FSR,TME

T - WMT, HD, BIDU, SE, M, IQ, TTWO, TCOM

W - JD, VIPS, TGT, LOW, ADI, TJX, CSCO, LB, KEYS,

T - CSIQ, KSS, LSPD, WOOF, BJ, RL, HRL, AMAT, PANW, DECK, ROST, SVM

F - DE, FL

-

Econ-data/events

M - Empire state manu', Home builders

T - Building permits, Housing starts

W - EIA Pet' (10.30am), FOMC mins (2pm)

T - Weekly jobs, Phil' Fed, Leading indi'

F - PMI manu', PMI serv', existing home sales. *OPEX*

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Final note

The past week was very dynamic, with a powerful three day decline to sp'4056, and an almost equally powerful two day rebound to 4183. Such price action has done nothing to dent the m/t bullish trend. Whilst next week threatens another significant wave lower, I will have no concerns unless we see a sustained break <4K. 

Does anyone really think 4238 was a key m/t top? Well, I guess a few of you might, but new historic highs in the 4300s still seem on the menu into early summer.

As for Twitter... my ongoing break is actually rather nice. Maybe I'll return next week, or maybe not, as I still have bigger priorities right now anyway. 

If you're tired of the mainstream media hacks, believe in freedom of speech, and want to be overloaded by charts, then you know where to find me in... the twilight zone.

 

If you value my work on Blogger, Twitter, and want more of the same, subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Have a good weekend

--

*the next post on this page... unknown.

Weekend update - US equity indexes

It was a bullish week for most US equity indexes, with net weekly changes ranging from +3.9% (Transports), +2.7% (Dow), +2.3% (NYSE comp'), +1.2% (SPX), to -1.5% (Nasdaq comp').

Lets take our regular look at five of the main US indexes (monthly candle charts).

sp'500

Nasdaq comp'

Dow

NYSE comp'

Trans

–

Summary

Four US equity indexes were net higher for the week, with one net lower.

The Transports lead the way higher, with the Nasdaq lagging.

The SPX, Dow, NYSE comp', and Transports broke new historic highs.

All five US equity indexes are trading above their respective monthly 10MA, and I thus see the m/t trend as bullish.

–

Looking ahead

A lighter week is ahead. The most important number will likely be CPI.

Earnings:

M - WKHS, TTD, COTY, BNTX, TSN, MAR, ENR, OXY, SPCE, NVAX, RBLX, WYNN, SPG

T - PLTR, JMIA, FUBO, U, LMND, UPST, SNDL, OPEN, EA, KGC

W - WIX, WEN, LITE, SONO

T - BABA, YETI, BILI, CELH, DIS, ABNB, BNGO, ACB, FTCH, DASH

F - FREE

-

Econ-data/events

M -

T - JOLTS

W - CPI, US T-budget

T - Weekly jobs, PPI

F - Retail sales, import/export prices, indust' prod', consumer sent', Busi' invent'

-

If you value my work on Blogger, Twitter, and want more of the same, subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Have a good weekend

--

*the next post on this page will likely appear 5pm EST on Monday.

Moderate swings

US equity indexes closed on a positive note, SPX +34pts (0.8%) at 4201. Nasdaq comp' +0.4%. Dow +0.9%. The Transports settled +0.5%.

SPX - daily5

VIX - daily3

Summary

US equities opened choppy, if leaning on the weaker side. Wednesday's daily reversal candles in both the SPX and VIX played out, with the SPX cooling to 4147. Equities rebounded rather strongly into the early afternoon to 4186, saw a little chop, and ending with a mini ramp into the close, settling at 4201.

Volatility was mixed, the VIX printing 20.60, but cooling back to settle -4.0% to 18.39.
-

Another day closer to summer 2021

... and night must fall once more.

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

If you value my work on Blogger, Twitter, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Midweek chop

US equity indexes closed a little mixed, SPX +2.93pts (0.1%) at 4167. Nasdaq comp' -0.4%. Dow +0.3%. The Transports settled +0.1%.

SPX - daily5

VIX - daily3

Summary

It was a day of considerable moderate chop. Its arguable that s/t price action is just consolidation/chop from recent historic highs.

Volatility was subdued, the VIX settling -1.7% to 19.15. The SPX and VIX daily candles threaten early equity weakness on Thursday.
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Bullish carbon structures

5c/41f... a very chilly evening in early May

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

If you value my work on Blogger, Twitter, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Sporadic washout

US equity indexes closed very mixed, SPX -28pts (0.7%) at 4164. Nasdaq comp' -1.9%. Dow +0.1%. The Transports settled +0.05%. R2K -1.2%.

SPX - daily5

VIX - daily3

Summary

US equities opened moderately weak, with the SPX sliding to 4128 in the 11am hour.

Grogu... ringing the bell.

Meanwhile...

Ex Fed Chair... now US T-Sec' Yellen didn't help today, when she was effectively touting higher interest rates. Its kinda unusual for the T-Sec to talk this way. By default, higher rates would be bullish the US banks, not least Bank of America.

The afternoon saw a choppy bounce, with the SPX settling -28pts to 4164.

Volatility picked up, the VIX printing 21.85, if settling +6.4% to 19.48.
-

Looking down onto London

... and from the ground.

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

If you value my work on Blogger, Twitter, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

May begins positive

US equity indexes closed rather mixed, SPX +11pts (0.3%) at 4192. Nasdaq comp' -0.5%. Dow +0.7%. The Transports settled +1.8%.

SPX - daily5

VIX - daily3

Summary

US equities began May on a positive note, with the SPX pushing to 4209, but cooling a little in the late afternoon to 4192. Whilst the Transports broke a new historic high, the Nasdaq was a notable laggard.

Volatility was subdued, the VIX settling -1.6% at 18.31  

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

If you value my work on Blogger, Twitter, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Weekend update - World equity markets

It was a mixed month for world equity markets, with net monthly changes ranging from +3.9% (Australia), +2.7% (USA), +1.9% (Brazil), +1.0% (Hong Kong), +0.8% (Germany), +0.5% (Russia), +0.1% (China), -1.2% (Japan), -1.5% (India), to -1.7% (South Africa).

Lets take our regular look at ten of the world equity markets.

USA - Dow

The mighty Dow broke a new historic high of 34256, settling +893pts (2.7%) to 33874. I would note the 10MA stands at 29715. The monthly momentum (green bar histogram) cycle continues to strengthen, and hasn't been this high since at least the late 1970s. 

Right now, any correction would see first major support around psy' 30K, where the monthly 10MA will be in May. As things are, there is zero sign of a short/mid term top.

Germany – DAX

Japan – Nikkei

Brazil – Bovespa

Russia - RTSI

India – SENSEX

China – Shanghai comp'

South Africa – Dow

Hong Kong – Hang Seng

Australia – AORD

–

Summary

Seven world equity markets were net higher, with three net lower.

Australia and the USA were strongest, whilst India and South Africa were weakest.

The USA, German, and Australian markets broke new historic highs.

All ten world equity markets are trading above their respective monthly 10MA, and I thus see the m/t trend in all ten as bullish.
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Looking ahead

Earnings:

M - ON, EL, BRK, CHGG, IRBT, XPO, FANG, SEDG, RIG

T - PFE, CVS, CRSR, UAA, COP, RACE, BHC, ATVI, TMUS, AYX, SPCE, UPWK, Z, LYFT, XLNX, MTCH

W - GM, GOLD, SPWR, PYPL, RKT, ETSY, UBER, TWLO, FSLY, MRO, QRVO

T - MRNA, VIAC, PENN, REGN, MIT, W, SQ, ROKU, PTON, AMC, NET, BYND, DBX, GPRO, DDOG

F - DKNG, NKLA, CCJ, CRON

-

Econ-data:

M - PMI/ISM manu', construction, vehicle sales

T - Intl' trade, factory orders

W - ADP jobs, PMI/ISM serv', EIA Pet'

T - Weekly jobs, productivity/costs

F - Monthly jobs, wholesale inventories, consumer credit

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Final note

I will merely note that if you believe in freedom of speech, liberty, and are tired of the mainstream media hacks, you should know where to find me in... the twilight zone.

 

If you value my work, subscribe to my intraday service.

For details, and the latest offers: https://www.tradingsunset.com

Have a good weekend
--
*the next post on this page will likely appear 5pm EST on Monday.