Stock Market Blog -Sep 18th

We got a nice rally this week, which happened to also include 'quarterly' options expiration. We'll see how the rest of the quarter plays out through September 30th. For a new up-trend to be established, a lot of price resistance has to be overcome from the August drop. 

Gold lost some of its luster, while Bonds continue to hold up well.

New all time highs: Amazing AMZN! ATHN, AZO, BBBY, COST, CL, DMND, DG, DLTR, DUK, HANS, JAZZ, KO, MA, NUS, ORLY, SO, TJX -are we really in a bear market? INTC is also showing good strength.


All time lows: STP (Solar stocks have been hit hard lately)


NFLX and RIMM tumbled this week!

New unemployment claims were up, coming in at 428,000 (chart). 
This week, no banks were shut down by the FDIC!(list).

Next week: (Economic reports link). Fed meeting next week -we may get some kind of market moving announcement. Also, FDX and ORCL report earnings.

Market Commentary

We did get a relief rally this week, and it did crush the bears (last week's post)! 
I expect a pullback now, then maybe another push higher, but with high volatility, anything could happen. Stocks are still hitting new all time highs (see above), so this 'bear market' could just be losing some strength. The Nasdaq 100 is already showing 'higher highs' over some recent tops. Watch for any surprise announcement by the Fed next week too!

This weeks charts: 
Amazing Amazon
Gold pulled back
TLT may be reversing? (Bonds)
The Euro recovered a bit

Commodities (charts): 
Oil prices were higher, closing around $87.96 per barrel. 
Natural Gas was slightly lower, closing near $3.81
Gold dropped, closing around $1815. 
The 30 year Bond futures dropped, closing near $139.78. Still no top... 
The US Dollar was lower, closing near 76.60

News:  
Stocks finish their second-best week in a year
Stocks Advance 5.4% for the Week
3 Reasons Why The S&P 500 Index Will Move Higher 
Market Recap: 15 Reasons the Dow Rallied 4.7% and Gold Dipped
U.S. Federal Reserve Steps Up to Buoy Global Financial Markets

Foreclosure filings jump 7% in August from July
Alabama County Nears $3.14 Billion Settlement, Avoids Historic Muni Bankruptcy


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RIMM Misses on Lower Sales
Microsoft unveils a radically redesigned Windows 8 
Bank Of America Just Took Armageddon Off The Table 

Central banks to provide dollar liquidity
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Euro Will Continue To Fall: US Dollar, Japanese Yen, Gold Best Hedging Options