Weekly Finviz heat map for week ending 5/26
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.
🧢 IWM Small caps lost over 1%.
🏎️ QQQ 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 — Nonfarm Payrolls