Stock Market Blog -Sep 16th

The market rallied this week after the FED announced another helicopter drop, to the tune of $40 billion per month, indefinitely! Full speed ahead. As you would expect, the US Dollar dropped, Bonds dropped, and Gold rallied.

New all time highs:  AAPL, ACN, AMZN, COST, CBS, CBE, COV, DIS, DFS, DTV, CVX, FL, FBHS, GILD, ITW, LNKD, PG, PSX, RAX, RGLD, UA, XLV, XLY, XOM, XRT, JNK, HYG
All time lows:  VXX, SDS, TZA -again! also EDZ, FAZ, ERY
Pops: everything!
Drops:   AZO

Next week: Economic reports 
Earnings reports from ORCL, FDX, and GIS
Don't forget Options expiration on Friday -quarterly too.

Market Commentary

Pretty much the same commentary as last week! The market continued to rally, keeping the trend in place, so the trade is still to be long stocks -and the Fed did move the markets! Volatility continues to approach new lows (VIX), meaning that stocks could be also be close to a top -it's very extended at this point. Maybe we'll see a turn after Options expiration.

This week's charts:

Weekly Unemployment claims
S&P 500 -now overbought
OptionsMakeSense

NASDAQ vs. S&P 500 (15 years)

Commodities/Futures (charts):
Crude Oil rallied, closing near $99
Natural Gas rallied, closing near $2.94
Gold rallied again, closing near $1770
The 30 year Bond dropped, closing near $144.56
The US Dollar dropped, closing near 78.84

NEWS:
U.S. Stocks Rally to Highest Since 2007 Amid Fed Stimulus
Sign of the Times: 22% of the S&P 500 at New Multi-Year Highs
Fed Unveils QE3
Fed Juices Stocks—but What Could Bring Out the Bears?
Time to Bail Out on Treasurys?
Dow average dumps Kraft Foods for UnitedHealth
Moody’s Warns That U.S. May Face Debt Downgrade
Amazon Grossly Overpriced