It was a net bullish week for US equity indexes, with net weekly gains ranging from +3.5% (Trans), +2.4% (NYSE comp'), +2.2% (R2K), +2.0% (Dow), +1.5% (SPX), to +0.7% (Nasdaq comp').
Lets take our regular look at six of the main US indexes (monthly candle charts).
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
–
Summary
All six US equity indexes settled net higher for the week.
The Transports lead the way up, with the Nasdaq lagging.
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.
–
Looking ahead
The latest CPI is due on Thursday, although I'd place almost as much importance on the PPI data, which is due Wednesday. It will be the start of Q3 earnings season, with JPM leading the way.
Earnings:
M -
T -
W - PEP
T - TSM, DAL, BLK, DPZ, WBA, FAST
F - JPM, MS, C, WFC, PNC, USB, UNH
-
Econ-data/events
M -
T - Small business index
W - PPI, EIA Pet', FOMC mins (2pm)
T - CPI, weekly jobs
F - Retail sales, import/export prices, consumer sent', business invent'
-
 |
| Bullish golden skies |
Final note
I will merely add that it would be surprising if the rest of October goes without some degree of further downside. Got enough popcorn?
For the latest
offers, see: 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.
