Stock Market update: Stock Market Blog -Sep 9th

We got a nice rally this week as the ECB announced their bond buying program. We also saw a lot of stocks break out to new highs, including the NASDAQ hitting a new 12 year high! However, the disappointing monthly jobs report on Friday put a damper on the party. Also Fedex and Intel reduced their guidance based on a weakening economy. Lots of stocks hitting all time highs this week!

GOOG and AMZN continue to rally nicely!

New all time highs: AAPL, AMZN, BUD, CCI, COST, CVX, CBS, DIS, DTV, EW, FL, FBHS, GILD, ITW, LNKD, PG, RAX, RGLD, REGN, UA, ULTA, XLV, XLY, XOM, XRT
All time lows: VXX, SDS, TZA
Pops: CMG, FCX, LULU
Drops:

Next week: Economic reports Apple is expected to launch their new iPhone on Wednesday.

...Fed Meeting, Apple Event, German Court Decision

Market Commentary

The market continued to rally, keeping the trend in place, so the trade is still to be long stocks. The Fed could move the market on Wednesday, so be cautious. Volatility is approaching a low again (VIX), meaning that stocks could be close to a top. Gold is rallying once again as the US Dollar drops.

This week's charts:

Weekly Unemployment claims
S&P 500 -still trending up
OptionsMakeSense

Commodities/Futures (charts):
Crude Oil was mostly unchanged, closing near $96.32
Natural Gas dropped, closing near $2.66
Gold rallied again, closing near $1735
The 30 year Bond dropped, closing near $148.63
The US Dollar dropped, closing near 80.18