The markets have bounced back after experiencing one of the fastest 10% declines in history. Overall, the market is still up year to date, despite fears of inflation increasing.
Was last week a dead cat bounce or did we get the 10% correction we needed for the bull market to continue?
Investors should continue to monitor inflation data, as well as earnings. Some key names reporting include Walmart, The Home Depot, and Apache Corporation.
The VIX closed at 19.46 on Friday, a steep decline from the Feb 6 high of 50.41.
Here are how some of the most widely traded index ETFs performed over the week:
Powershares QQQ ETF (QQQ) +5.68%, SPDR S&P 500 ETF (SPY) +4.44%, SPDR Dow Jones Industrial Average ETF (DIA) +4.10%, iShares Russell 2000 ETF (IWM) +4.48%
It’s a short week due to President’s Day. Besides the FOMC Minutes being released, there isn’t much on the economic calendar.
21 Feb 2018- PMI Composite Flash 9:45 AM ET; Existing Home Sales 10:00 AM ET; FOMC Minutes 2:00 PM ET
22 Feb 2018- EIA Petroleum Status Report 11:00 AM ET
20 Feb 2018- DUK, GPC, HD, MGM, NBL, SIX, WMT, BYD, CXO, DVN, EXR, NFX
21 Feb 2018- GRMN, LNG, WEX, CAKE, EVTC, P, FIVN, CAR
22 Feb 2018- APA, CHK, GOGO, CNP, HRL, MITL, PPL, SCG, W, WIN, HLF, GDDY, INTU, OLED, TTD
23 Feb 2018- COG, ETR, HUN, PEG, PNW, RY
Be sure to check out our Active Trading Masters Program | Online Courses