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SPX-Greedy...or Not...

@Do_Trading
CONTENT: Summary - Main events - Market scenario - SPX levels - Agenda. $S&P 500(.SPX)$ rose 1.5%, taking its weekly gain to 1.8%. $NASDAQ(.IXIC)$ continued its advance with 1.1% to hit a 52-week high. He gained 2% weekly, extending his winning streak to six weeks. (longest winning streak since January 2020). $DJIA(.DJI)$ by 2.1%, with the biggest one-day point gain for the Dow Jones since Nov. 30, 2022 (about 701 points). Although big tech stocks have gone it alone in recent weeks, raising questions about the real breadth of the market, on Friday all 11 sectors of the S&P 500 rose... Market valuation The reset in VVIX and skew this week has been absolutely huge… Reset in VVIX and skew MAIN EVENTS US debt agreement The stock exchanges welcomed the news that there will be no default of the United States of America, since the Senate validated, without a hitch, the debt ceiling agreement that the House of Representatives had approved a little earlier. This would reduce the risk premium and eliminate a source of tension until the end of 2024. US Employment Report - NFP NFP May came in much hotter than expected, but traders shrugged it off and pushed the market higher as a whole. The overall figure came in at 339,000 jobs, well ahead of expectations of 186,500. Modest wage gains of 0.3% month over month and a rise in the unemployment rate, signaling greater worker availability... MARKET SCENARIO Good news for investors, as there is still no sign of an economic slowdown, let alone a recession, in the jobs data. That means there's no impending downturn to hit corporate earnings and drive down stock prices, and it's helping to lift equity markets, especially the cyclical sector. Traders are still placing a 67.3% chance that the Federal Reserve will skip an interest rate hike at its June meeting so the central bank can reassess things in July... Upcoming inflation figures will likely reinforce the Fed's next moves. SPX LEVELS The week could be marked by some volatility, especially after the OPEC+ meeting, which will be held following the rise observed during the week in US crude oil inventories... Please find below the levels selected for the SPX: Key levels: 4150-4200-4250-4290 Upper levels: 4300-4325-4350 (4300 major resistance) Lower levels: 4275-4250-4200 -4150 (4200 in major support) SPX Levels AGENDA Monday, the non-manufacturing ISM PMI in the United States. Initial Jobless claims United States on Thursday. New loans in China on Friday. Monetary policy decisions are scheduled: in Australia (Tuesday) and Canada (Wednesday). Thank you for reading and supporting. Welcome new followers @TigerStars @CaptainTiger
SPX-Greedy...or Not...

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