May 5, 2023
Thanks to Apple's better-than-expected earnings result, the US stock market has broken the 4 trading days losing streak. The indexes benchmark / ETFs rallies
- DIA +1.63% QQQ +2.13% SPY +1.85%
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DIA is weaker compared to SPY & QQQ, see the chart above * DIA has succumbed at 20dma
resistance
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Notable Earnings Movers:
SHOP 2 days massive rally
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| REGN sell of reaction post earnings |
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| SEDG lost half of its intraday gain/ rally. |
May 4, 2023
It is another red day in the US equities, this is the 4th consecutive trading day of red performance. The Dow Jones has tested the 50-day moving average support today.
The weekly performance Dow Jones -2.85% SPX -2.60%.
The ECB announces a 25bps hike of interest rate ECB increases interest rate by .25bps , following the US Federal Reserve hike yesterday.
The US weekly jobless claim increased of 13,000 to 242,000 Weekly Jobless claims
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| SEDG earnings reaction |
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SHOP earnings reaction
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May 3, 2023
The US equities turn lower post-FOMC announcement of a .25bps hike on interest rate Fed Powell hike .25 bps. The US stock benchmark/ ETFs closed in red territory again on a 3rd-day streak since the beginning of the month of May.
- SPY -.69% DIA -.82% QQQ -.65%
Notable stock movers:
- LLY +6.68% [trading at record high] after announcing its Donanemab Significantly Slowed Cognitive and Functional Decline in Phase 3 Study of Early Alzheimer's Disease https://investor.lilly.com/news
Notable Market Catalyst for the week:
- SEDG earnings after the bell, this is a significant event for the solar industry, as the behemoth FSLR & ENPH cratered last week after announcing its earnings for Q1 '23.
- Thursday- ECB rate announcement, US Jobless claim, & AAPL earnings release.
May 2, 203
The US stock market slumped today, on a technical basis, the US benchmark/ETFs printed a technical failed breakout, IF, it continues to decline below the 50-day moving average.
- SPY -1.12% DIA -1.03% QQQ -.87%
Regional Banks' Turmoil Continues:
The solar industry continues to crater:
- FSLR -2.46% SEDG -4.49% ENPH -4.80%
May 1, 2023
The US stock market benchmark/ ETFs took a slight pullback today:
- SPY -.10% DIA -.20% QQQ -.11%
Notable stock movers:
- AMZN -3.22% 2nd trading day slump, following the mean reversal of +12% to -3.98% closing price last Friday.
- ENPH -2.20% FSLR -.95% continuation sell-off following last week's dismal earnings report- SEDG -3.37% selling off in sympathy to solar stock sell-off, SEDG sets to report on May 3.
- XOM -3.10% - a 3% pullback on some stocks may be nothing, but it is vast for a corporation like XOM, the weakness is due to Goldman Sachs's downgrade to Neutral from Buy.
JPM +2.14%.
The catalyst for the market this week :
- Wednesday - FOMC
- AAPL - sets to report on May 4, after the bell.
