I'm still looking for more upside in stocks, but we have had a nice rally since Dec 19th so I wouldn't be surprised to see a pullback before we rally again.
New all time highs: AAPL, ALXN, AMT, FAST, HUM, ROST, TJX, SBUX, YUM
All time lows: FAZ, UNG
Pops & Drops: BKS, EK dropped.
Next week: Economic reports
AA kicks off earnings reports on Monday after the close.
JPM reports on Friday.
| Market Commentary |
We could get a pullback this week as we consolidate the gains from the past three weeks. I see this as a buying opportunity. Stocks like AAPL, ISRG, ROST, and SBUX are hitting new all time highs. Earnings season starts in another week and we could see good numbers push the market up further. The chart technicals support this view.
Of course the Euro could drop further and spoil the party, though the market held up this week as the Euro dropped, so that correlation may be fading.
This week's charts:
Hot stocks
Jobs -scary
Commodities (charts):
Oil prices rallied, closing just under $101.56
Natural Gas was up, closing near $3.06
Gold rallied, closing near $1616
The 30 year Bond futures dropped, closing near $143.03
The US Dollar was up, closing near 81.60
NEWS:
U.S. Stocks Rise as S&P 500 Index Posts Its Second-Best Start Since 2006
U.S. Economy Gains Steam as 200,000 Jobs Are Added
Earnings in spotlight but Europe may steal show
6 stocks set to advance in 2012
Bonds Outperform Equities In 2011
McDonald's Will Outshine Apple In 2012
Oil Posts An All-Time Annual High
The 13 Worst Big Stock Stories Of 2011
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