Stock Market Blog -Aug 8th

The market rallied nicely on Monday, but was flat for the rest of the week. The jobs report on Friday was a disappointment and the market sold off , though it recovered most of the losses near the end of the day on Friday.

The US Dollar continues to head further down.
Gold closed back above $1200 on Friday.

PCLN surged on earnings

New all time highs: AGG BIDU CTSH CRM CMI ED HAS FFIV FDO MCD MO & others...

New unemployment claims were up again, coming in at 479,000 (chart).
This week, another bank was shutdown by the FDIC! (list).

Next week: We get the usual Economic reports, along with more earnings reports. Some of the companies reporting earnings:

MON	TUE	WED	THU	FRI
	CREE	BHP	NVDA
	DIS	CSCO	RGLD

Market commentary: The market will probably react to more earnings this week, though the number of reports is starting to taper off. Of significance is a Fed meeting on Tuesday, which could be a catalyst for the next move in the market.

I'm still of the opinion that the market wants to move higher from here. The S&P500 needs to get through resistance of around 1130...

Commodities (charts):
Oil was up a bit closing near $81 per barrel.
Natural Gas sank down to close at $4.46.
Gold rallied back up, closing around $1203.
The US Dollar index was down again, closing around 80.50
The 30 year Bond rallied again, closing just over $129.
'Wheat' has rocketed up for the past month!

News:
Dow Rises for Third Consecutive Week
S&P 500 clears major resistance without volume
Unemployment Duration Far Surpasses Levels Seen in Early 1980s
Discouraging news from payrolls report
H-P CEO Hurd resigns after sexual harassment probe

Home ownership falls to lowest level in 11 years
Why Bonds Tell a Better Story Than Stocks
Dollar near bear market territory
Is the party about to end in Brazil?
Shale: The Good News On Energy