New all time highs: AAPL, AZO, BWA, CCI, CIG, CMG, COH, DISCA, DKS, FAST, HLF, ISRG, IBM, LULU, MNST, NKE, ORLY, PAA, PM, ROST, TDC, TJX, UA, and more...
All time lows: FAZ, QID, SDS, TZA -the usual suspects!
Pops: AZO
Drops: FSLR
Weekly Unemployment claims
Next week: Economic reports
All eyes will be on the monthly Jobs report due on Friday morning. Also, Apple should announce the iPad 3 this week. This could cause another pop in the stock price, or a 'sell the news' pullback!
| Market Commentary |
The S&P 500 finally took out the May 2011 high (1370); we could see a pullback at this resistance level. The Small Caps have already been pulling back, and may provide a small clue on the next move in the markets. The US Dollar has started to move back up as well, another negative for stocks. From a purely 'technical' standpoint though, the rally is still very much intact.
Meanwhile, the DOW contiinues to flirt with 13000 and the NASDAQ with 3000.
This week's charts:
S&P 500 -finally took out the 2011 high of 1370
AZO -wow!
Nasdaq 100 vs Small Caps -big divergence!
Commodities/Futures (charts):
Oil prices dropped, closing near $106.70
Natural Gas dropped, closing near $2.48
Gold tumbled, closing near $1709
30 year Bond futures dropped, closing near $141.22
The US Dollar rallied, closing near 79.46
NEWS:
Why some investors are worried about Dow 13,000
What’s the big deal about Nasdaq 3,000?
1450 or 1250: What’s S&P More Likely to Print, Next?
London Is Eating New York’s Lunch
Moody's Downgrades Greece to Lowest Rating on Scale
Putin Wins Presidency And New Six Year Term
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