Weekend Rip: Breaking Out or Breaking Down?

Good evening everyone. Get ready for another wild week. Heavy hitters like Walmart, Target, Home Depot, Nvidia, and Alibaba are all expected to report earnings. See below for the full calendar. 

We hope at least one company gives us a taste of guidance. 🤞

The S&P 500 has remained in a 200 point range 2950-2750ish since early April. The question is will we break-out or break-down? Place your bets…

And here’s the weekly chart. If you remember correctly 2950 in the SPX dates back to the Fall of 2018. 👀

S&P 5002,863-2.26%
Russell 20001,256-5.46%
Dow Jones23,685-2.65%
Weekly percent changes 

1918 Retail Sales

Here are a few newspaper clippings from the 1918 pandemic highlighting poor retail sales.

Via Pandemics & Markets: Part II

Innovation At Its Best.

Check this out, the Immersive Van Gogh Art exhibition in Toronto has been reconfigured to be a drive-in. How freakin cool is that. The exhibit is already sold out, what a great idea. Read more about it here.

Sunday Links:

Young Bulls and Old Bears

Latest Thing to Vanish From Store Shelves: The Golf Pushcart

Hiking to the Bottom of the Grand Canyon Is the Trip of a Lifetime

Free Porsche Museum entry and virtual tours on Instagram – Ferdinand

An Inflection Point For Both Stocks And Bonds

10 Good Movies You Can Stream Right Now 

The Week Ahead 

And now a brief and well-organized look ahead at the trading week beginning Monday, May 18, 2020:

Economic Calendar:

5/18 May NAHB Housing Market Index (10:00 AM EST)
5/19 April Housing Starts (8:30 AM EST)
April Existing Homes Sales (10:00 AM EST)

Here’s the full Economic Calendar provided by Briefing

Earnings Ahead:

Here’s Earnings Whispers’ great visual.

Be sure to know when your stocks are reporting. Here’s the full earnings calendar.