New all time highs: AAPL, AMZN, AAP, CTSH, MCD & YUM, MO, GLD & SLV & SLW
New all time lows: QID, SDS, TZA -leveraged market indexes!
New weekly unemployment claims rose to 462,000 (chart).This week, three more banks were shutdown by the FDIC! (list).
Next week: (Economic reports link). Earnings season gets in to full swing, with the following companies among those reporting: (expect market volatality)
| Mon | AAPL, IBM, C, HAL, PBR, VMW |
| Tue | BAC, KO, GS, JNJ, EMC, ISRG, YHOO |
| Wed | BA, BLK, MO, NFLX, UTX, WFC |
| Thu | AMZN, AXP, BIDU, CAT, MCD, MS, FCX, T, TRV, UPS, |
| Fri | F, VZ |
All eyes are on AAPL, due to report on Monday.
Market commentary: The market continues to rally, so stay with the trend until it shows a definite turn. This will probably come when the US dollar reverses its decline. Maybe this week?
Of the major indexes, the 'technology laden' Nasdaq 100 (QQQQ) is the only one that has taken out the April top (see chart below).
Commodities (charts):
Oil prices dropped, closing near $81 per barrel. We may be at a top here.
Natural Gas dropped again, closing at a new low around $3.50. We may be at a bottom.
Gold hit all time highs once again, closing around $1371. Getting close to a top!
The US Dollar index was down, closing around 77.25. Getting close to a bottom!
The 30 year Bond dropped, as stocks went up, closing just over $131.
Silver prices also rocketed up this week.
Commodity prices continue to rise as the US Dollar falls.
News:
U.S. stocks end mostly up after Google earnings
Google tops $600 a share
Core prices lowest in decades as CPI edges up
Apple earnings expected to blow out on iPhone
Mozilo settles Countrywide fraud case at $67.5 million
Fixed-rate mortgages fall to record low
In charts: Foreclosures, inflation and more
49-year core inflation low
Deficit tops $1 trillion second year in a row
Social Security benefits won’t rise in 2011
Know when to dump a losing fund
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