It was a bearish week for US equity indexes, with net weekly declines ranging from -3.0% (Trans), -2.8% (Nasdaq comp'), -2.5% (R2K), -2.4% (SPX), -2.1% (Dow) to -2.0% (NYSE comp'). Near term outlook leans bullish.
Lets take our regular look at six of the main US indexes
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
–
Summary
All six US equity indexes were net lower for the week.
The Transports lead the way lower, with the NYSE comp' most resilient.
More broadly, all six US equity indexes are trading under their respective monthly 10MA, and have increasingly negative momentum. By definition, all six indexes are m/t bearish.
–
Looking ahead
The schedule is distinctly lighter...
Earnings:
M - SNDL, TTWO
T - WMT, HD, SE, JD, KEYS
W - TGT, LOW, TJX, ADI, CSCO, SQM, ZIM
T - KSS, BJ, GOOS, AMAT, PANW, ROST, DECK
F - DE, FL, BKE
-
Econ-data/events
M - Empire state manu'
T - Retail sales, indust' prod', Business invent'
W - Housing starts, Phil' Fed manu'
T - Weekly jobs, existing home sales
F - *OPEX*
-
If you value my work on Blogger, Twitter, and want more of the
same, subscribe to my intraday service! For details, see: https://www.tradingsunset.com
Have a good weekend
--
*the next post on this page will likely appear 5pm EST on Monday.
