It was a very bullish week for US equity indexes, with net weekly gains ranging from +7.1% (Trans), +6.8% (Nasdaq comp'), +6.6% (SPX, R2K), +6.2% (Dow), to +5.7% (NYSE comp').
Lets take our regular look at six of the main US indexes
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
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Summary
All six US equity indexes saw very powerful net weekly gains.
The Transports lead the way up, whilst the NYSE comp' was a little laggy.
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.
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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 - SHIP, CRM, APPS, CHPT, HPQ, AMBA, VSCO
W - CPRI, GME, CHWY, HPE
T - HRL, LE, CRWD, LULU, RH, OKTA
F -
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Econ-data/events
M - CLOSED
T - Case-Shiller HPI, Chicago PMI, consumer con'
W - PMI/ISM manu', JOLTS, construction, Fed Beige book, vehicle sales
T - Weekly jobs, ADP jobs, product/costs, factory orders
F - Monthly jobs, PMI/ISM serv'
As Tuesday is the end of the month, I'd expect considerable chop on very high vol'.
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Have a good weekend
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*the next post on this page will likely appear 5pm EST on Tuesday, May 31st.
