It was a bearish week for US equity indexes, with net weekly declines ranging from -2.8% (R2K), -2.3% (Dow), -1.8% (Trans), -1.0% (NYSE comp'), -0.9% (SPX), to -0.8% (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
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Summary
All six US equity indexes were net lower for the week.
The R2K lead the way down, whilst the Nasdaq was most resilient.
More broadly, all six US equity indexes are trading above their respective monthly 10MA, and have positive monthly momentum.
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Looking ahead
Mr Market will be especially focused on the latest inflation data, with Q1 earnings season to begin with the financials.
Earnings:
M -
T - TLRY, NEOG, AEHR, WDFC, PSMT, SGH
W - DAL
T - STZ, KMX, FAST
F - JPM, WFC, C, BLK, PGR, STT
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Econ-data/events
M -
T -
W - CPI, Wholesale invent', EIA Pet', FOMC mins (2pm), US T-Budget
T - PPI, Weekly jobs
F - Import/export prices, consumer sent'.
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Final note
Suffice to add, the concern should be a geo-political 'wild card' within the near term. Gold $2350 is arguably warning of something. For more of the same...
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Have
a good weekend
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*the next post on this page will likely appear 4.20pm EDT on Monday.
