It was a bearish week for US equity indexes, with net weekly declines ranging from -2.8% (R2K), -2.6% (Nasdaq comp'), -2.5% (Trans), -1.4% (NYSE comp'), -1.2% (SPX), to -0.2% (Dow). Near term outlook leans bearish.
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 settled net lower for the week.
The R2K lead the way lower, with the Dow most resilient.
More broadly, all six US equity indexes are trading under their respective monthly
10MA, with negative momentum. By definition, all six
indexes are m/t bearish.
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Looking ahead
Earnings:
M - ZM, PANW
T - M, XPEV, JD, DKS, MDT, INTU, JWN, TOL, URBN
W - WOOF, NVDA, CRM, SNOW, ADSK, SPLK, WSM, BOX, VSCO, GES
T - PTON, DLTR, DG, BURL, ANF, COTY, AFRM, MRVL, ULTA, DELL, GPS, WDAY, FTCH, VMW
F - JKS
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Econ-data/events
M - Nat' act' index
T - PMI manu' & serv, new home sales
W - Durable goods order, pending home sales, EIA Pet'
T - Weekly jobs, Q2 GDP (print'2)
F - PCE index, personal income/spending, intl' trade, consumer sent'
*Powell is due to speak 10am, at Jackson Hole.
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For details: https://www.tradingsunset.com
Have
a good weekend
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*the next post on this page will likely appear 5pm EST on Monday.
