Stock Market Blog -Jun 13th

The market might have hit a bottom this week as it rebounded from Tuesday's lows. The chart below shows all green for the sectors in the S&P500 this week. We'll see if there is any follow through next week. Friday saw a disappointing retail sales report for May.

New all time highs this week: GLD NFLX CRM ESRX
All time low: GAME

New unemployment claims fell this week, coming in at 456,000 (chart).
This week another bank was shutdown by the FDIC! (list).

Next week: We get a number of Economic reports, along with earnings from BBY and FDX. Also Friday is 'triple witch' expiration day for Options and Futures for the second quarter. The market can be unpredictable during quarterly expiration week.

Market commentary: We may have seen a double bottom in the S&P500 this past week, and with sentiment so negative, I expect we could see the market rally some more next week (contrarian view). The US dollar may have topped out for now, which would also support a move up in stocks.

Commodities:
Oil prices were up, closing around $74 per barrel.
The Natural Gas rally held up, closing around $4.80.
Gold prices hit a new all time high, but fell back to around $1229.
The US Dollar index may have topped for now, closing around 87.
The 30 year Bond dropped, closing around $124.

News:
Dow posts 1st weekly gain in a month
The 11-Year Itch: Still Stuck at Dow 10000
How to lose money: Buy banks
Time for investors to wait and watch
Are bonds pricing in another panic?
AN INVERTED DEATH CROSS IN INVESTMENT GRADE CREDIT
Wasn't commercial real estate supposed to crash?
Presidential Spending: Expenditures by Year
Google dumps Windows...