Stock Market Blog -Jan 29th

The market popped on Wednesday (after the Fed announced that they will keep interest rates low till at least 2014), then gave up most of those gains on Thursday and Friday. Gold also popped, and interestingly enough, Bonds rallied too. Next week we could see a turning point in the stock rally.

New all time highs:
All time lows:  TZA ZSL

Pops & Drops:
AAPL popped on earnings. EMC, NFLX, and JCP also popped.
GLD popped after the Fed announcement to keep interest rates low.

RVBD dropped on earnings.

Weekly Unemployment claims

Next week: Economic reports   Next Friday we get the monthly Jobs report -a potential market mover.
Also, earnings reports from the following companies:

Mon: BIDU
Tue:  AMZN PFE UPS XOM
Wed: CMG MRO QCOM
Thu:  GMCR IP MA MRK
Fri: 

Market Commentary

The market settled mostly unchanged for the week, and looks tired up at these lofty levels from the December 19th low. I'm still looking for a pullback.

Bonds have been up this week too, as stocks remained flat. Earnings will continue to drive the market this week, along with news out of Europe. Longer term though, I'm bullish on the market for now, and looking to buy any pullback.

This week's charts:
AAPL  -largest market cap stock in the universe!
QQQ -ready to pull back yet?
SBUX -flying high


Commodities (charts):
Oil prices were mostly flat, closing near $99.56
Natural Gas finally rallied, closing near $2.77
Gold rallied again, closing near $1732
The 30 year Bond futures rallied, closing near $143.44
The US Dollar dropped, closing near 79.01

NEWS:
Dow Ends Lower; S&P, Nasdaq Gain for 4th Week
GDP comes in light at 2.8%
Fed Signals That a Full Recovery Is Years Away
Apple shares jump after earnings smash estimates
Apple’s Sweatshop Problem: 16 Hour Days, ~70 Cents An Hour
Why Starbucks Will Grow For Years

Facebook: Dead On Arrival For Investors?
Will the jobs report threaten the rally?
Stocks Worth Buying Before Earnings