📈What Happened In Stocks in 20 Charts

This week, all of the major economic data released came out in favor of the Fed pausing on September 20th. The chances of a rate hike fell from 20% to 6%. The three most important economic releases last week are as follows:

• The JOLTs job openings report came in at 8.8 million job openings, below the estimate of 9.4 million. The previous month's figure was also revised down by 400,000 job openings. This means that the number of job openings actually fell by 1 million from last month. This is a significant decline, and it is hard to imagine the Fed raising rates into such a weak labor market.

• The PCE price index came in line with expectations across the board. Used car prices fell 1.4% from June to July, which was lower than expected. This is a positive sign for inflation, as it suggests that the recent rise in prices may be starting to moderate.

• Nonfarm payrolls came in at 187,000, higher than the estimate of 170,000. However, the previous month's figure was revised down from 187,000 to 157,000. This suggests that the pace of job growth is slowing.

Let’s get to the charts !

SP500 ($SPY) seems to be pausing right at the key level. We did hold buy MACD rolling.

NASDAQ ($QQQ)has its MACD rolling but held 22 SMA weekly level.

RUSSELL 2000 ($IWM) has its rate of change boxed in and the index making higher lows.

SEMICONDUCTOR SECTOR ($SOXX) is back above the 12 SMA weekly.

ENERGY SECTOR ($XLE) is set to break out on the weekly chart with MACD widening off the zero line.

OIL AND GAS EXPLORATION ($XOP) sector looks ready to continue.

PROBABILITIES OF A FED HIKE are currently at 6% in September.

PROBABILITIES OF A FED HIKE by the end of the year have declined with 62% chance rates stay here. Also the chance of a rate cut tripled to 5.6%

TESLA STOCK ($TSLA) rejection at the 12 SMA weekly and MACD rolling.

NVIDIA STOCK ($NVDA) all time closing highs

INTEL CORP. ($INTC) setting up nicely and sitting on a major key level.

UBS GROUP AG ($UBS) breaking out of a major base developed over decades.

ORACLE CORP. ($ORCL)continues to curl up and recently upgraded by UBS

MERCADOLIBRE INC. ($MELI) breaking a multiyear level.

LULULEMON ATHETICA ($LULU) with a new 52 week high close.

European companies with US exposure have outperformed those with China exposure

Shares of U.S. Hedge Funds with Long Positions In China ADRs is increasing

The share of households reporting it is harder to obtain credit than one year ago is at a 10 year high

Credit card delinquency rates at small banks are higher than at large banks and at 30 year highs.

Decline in growth in Commercial real estate lending has slowed and still at 5 year highs.

Watch this Video for the exact levels I am watching this week on the indexes. Pay close attention to the Smart Money/Dumb Money section.

Wishing Everyone Massive Success!