Money Vikings Investing - Week of 5/28/2023
Market Report, Finviz/Sector Analysis, 🟢 Hot Trades SPY 🔥 Earnings
Key Points From Last Week and Next
⬆️ S&P 500: SPY had very little change since the week started, but did manage to close over 420. 51% of the overall market is at new lows. 61% of the market is below the 200 day SMA. SPY is up against the 2 Standard Deviation Bollinger Band. Small caps lost over 1%.
🏎️ The Nasdaq rocketed higher over 3% no doubt assisted by NVDA, and anything else related to AI.
💼 Bonds: TLT declined around .35% for the week, while the 10 year rate gained 2.45%, going up to 3.81%.
🎢 Volatility: The VIX increased over 4%
💸 Debt Ceiling: Seems we have a bit more time, but a deal could happen by June 5th, according to McCarthy.
🛢️ Commodities: Agriculture and Gold were down, while Oil was up over 1%. Natural Gas retreated.
💵 Earnings: We will hear earnings next week from Salesforce, Chewy, and Dollar General.
📈📉 Economic Events Next Week:
5/29 - Memorial Day, no Trading
5/30 - Consumer Confidence
5/31 - JOLTs Job Openings
6/01 - ISM Manufacturing
6/02 - Confirm Payrolls
Finviz Heat Maps and Sector Analysis
Technology continued to pull the market up 4.68% while Basic Materials (-3.36%) lagged
The Fear and Greed Index
No change from past week, still in greed
HotTrades - OPEN SPY Iron Condor
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