Weekend update - US equity indexes

It was a bullish week for US equity indexes, with net weekly gains ranging from +3.6% (Trans), +2.3% (NYSE comp'), +1.8% (R2K), +1.5% (Dow), +1.4% (SPX), to +1.0% (Nasdaq comp').

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 saw net weekly gains.

The Transports lead the way up, whilst the Nasdaq lagged.

More broadly, the Dow, NYSE comp', and Transports are above their respective monthly 10MA. All six indexes have negative monthly momentum.

–

Looking ahead

Highlight of the week will be Thursday's latest inflation data. It will be the formal start of Q4 earnings season, beginning with a quintet of financial giants on Friday.

Earnings

M - TLRY, AYI, JEF

T - ACI

W - KBH

T - TSM

F - BAC, JPM, C, WFC, BLK, UNH, DAL

-

Econ-data/events

M - Consumer credit (3pm)

T - NFIB small business index, wholesale invent'

W - EIA Pet' report

T - CPI, weekly jobs, US T-budget

F - import prices, consumer sent'.

*as Friday is the lead into a three day weekend, I'd expect considerable chop on light vol'. 

-

If you value my work on Blogger, Twitter, and want more of the same, subscribe to my intraday service! For the latest offers, see: https://www.tradingsunset.com

Have a good weekend
--

*the next post on this page will likely appear 5pm EST on Monday.

Upside into the weekend

US equity indexes closed very significantly higher, SPX +86pts (2.3%) at 3895. Nasdaq comp' +2.6%. Dow +2.1%. The Transports settled +3.4%. R2K +2.3%. 

SPX - daily

VIX - daily

Summary

US equities opened on a positive note, but the gains were shaky from the start, with most indexes effectively cooling back to even/fractionally negative. There was a secondary push upward, and this time, the gains were build into the late afternoon.

Volatility was ground lower into the weekend, the VIX settling -5.9% to 21.13.

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

 

If you value my work on Blogger, Twitter, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

A red Thursday

US equity indexes closed significantly lower, SPX -44pts (1.2%) at 3808. Nasdaq comp' -1.5%. Dow -1.0%. The Transports settled -1.5%. R2K -1.1%.

SPX - daily

VIX - daily

Summary

US equities saw early pre-market gains swing to moderate declines on the latest jobs data, seen by Mr Market as 'good news is bad news'.

Then CNBC rolled on George of the Fed, whom effectively gave a little extra clarity that we're due at least TWO more rate hikes, each of 25bps... Feb'1st and March 22nd.
-

Equities opened moderately lower, and whilst there were a few bounce attempts, the day ended on a significantly weak note. More broadly though, we've been stuck since mid December.

Volatility remained subdued, the VIX settling +2.0% to 22.46.
–

Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

 

If you value my work on Blogger, Twitter, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com