The Weekend Rip: Where’d The Shorts Go?

/ jwickman16

Good afternoon folks and welcome to the Sunday Rip.

 Check out this chart from the awesome Market Ear Blog:

If you missed the Stocktwits Top 25 this weekend, you can check it HERE.

This week we get a bunch of software earnings. Salesforce, Box, Intuit, Autodesk, and Splunk all step up.

Also, keep an eye out for Okta, which reports Thursday after the close. Since its IPO in April 2017, the stock is up 800%. Not too shabby…

The S&P 500 closed at a weekly all-time high. Freakadeak. Here’s the weekly chart:

And here’s a Nasdaq 100 weekly to boot. What a beast:

S&P 5003,397+0.72%
Nasdaq11,311+2.65%
Russell 20001,552-1.61%
Dow Jones27,930+0.00%

Weekly percent changes 

Financial History: Sunday Reads

The Public and Private Markets

Short Interest as a % of Market Cap

The short interest as a percentage of cap of the S&P 500 is low and sinking, which makes sense given the huge rally. Still, the steady decline in short interest speaks to the developing sentiment imbalance developing.

 

Wow ✈ 

Here’s the Concorde flying over NYC in 1986.

Read more about the Concorde from France-Amerique.

Bill Murray In All the Art Work

Here’s a bunch of iconic paintings reimagined with Bill Murray’s face replacing the original. Because why not…

Sunday Links:

 Kobe Bryant’s birthday, Lakers remember his influence

🌷 How Cutting-Edge Engineering Borrows Nature’s Innovations

🐟 Trump set to halt Pebble Mine, sources say

The Most-Wishlisted Off-the-Grid Airbnbs in the U.S.

🌳 Preserving Trees Becomes Big Business, Driven by Emissions Rules

Belarus protesters flood into Minsk, briefly approach Lukashenko residence

🤙 Students are taking gap years to avoid online class, and startups are scooping them up

The Week Ahead 

And now a brief and well-organized look ahead at the trading week beginning Monday, August 24th, 2020:

Economic Calendar:

  • 8/25  July New Home Sales (10 AM ET)
  • 8/25  August Consumer Confidence (10 AM ET)
  • 8/27 Initial Unemployment claims (8:30 AM ET)

Here’s the full Economic Calendar provided by Briefing. 

Earnings Ahead:

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