Stock Market Blog -Feb 26th

The rally continues -when will it stop, no one knows! Stocks and Bonds were both up this week -normally they move in opposite directions. Gold and Oil were up as well. Solar stocks pulled back.

New all time highs:  AAPL, ABV, ALXN, CAT, CCI, CMG, DKS, FAST, ISRG, JAZZ, KOG, IBM, LULU, MA, MNST, ORLY, PAA, PM, SWI, TDC, TJX,V, and more...
All time lows:  FAZ, QID, SDS, TZA -the usual suspects!


Weekly Unemployment claims -lower

Next week: Economic reports
Earnings reports next week: AZO, COST, PCLN

Market Commentary

The S&P 500 is still aiming to take out the May 2011 highs before we see any pullback (as I've mentioned a couple of times before). The Nasdaq 'Composite' just took out its 2007 high; the Nasdaq 100 took out that high way back in January 2011! The Euro rallied this week, helping to push up stocks. The US Dollar also looks like it may be headed lower, so this stock rally could go on for some time (see DOW chart below).

The DOW is still flirting with 13000 and the NASDAQ with 3000, looking to push higher. Rising Oil and Gas prices however could soon cap this rally, so it may be wise to take some profits here.

This week's charts:
S&P 500 -still trying to take out the 2011 high
MUNI Bond ETF dropped this week

DOW 14000 ??

Commodities/Futures (charts):
Oil prices rallied further, closing near $109.77 -we could see $115
Natural Gas dropped, closing near $2.55
Gold was higher, closing near $1776
30 year Bond futures rallied a bit, closing near $143
The US Dollar was down, closing near 78.40

S&P Posts Best Close Since June 2008
Jim Cramer’s 10 Earnings to Watch Next Week
US Data Could Drive Stocks Higher Amid Oil and Europe Risks
Oil prices rise on continued concern about Iran
Gasoline Prices Are Not Rising, the Dollar Is Falling

A new recession seems inevitable
If Economy's Improving, Why Is Dependency Growing?
Biggest Muni ETF Posts Biggest Two-Day Slump Since October 2008
Greek Debt Deal Merely Buys Time: World Bank's Zoellick
Why Capital Flows Uphill

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