Stock Market Blog -Mar 4th

The market was mostly flat this week (S&P 500), though the Small Caps have started trending down (IWM). Bonds and Gold dropped, as did the Euro, mostly after Ben Bernake's testimony. AAPL reached another all time high, and crossed the $500 billion level in market value. Oil touched $110 this week!

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


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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