New all time highs: ACN, CMCSA, ABT, CVS, COV, DFS, ESRX, GOOG, IBM, OCN, PM, RAX, STZ, V, WMT, WPI, WFM,
All time lows: ZNGA
Pops: NFLX, OCN, AVP
Drops: CMG, HPQ, MCD, ZNGA
Next week: Economic reports
Earnings reports next weeka
Mon:
Tue: AA, YUM
Wed: COST
Thu:
Fri: JPM, WFC
| Market Commentary |
Earnings reports begin next week, with JPM and WFC reporting on Friday -I expect Financials to continue the rally with support from the Fed's QE3 program. AAPL continues to be weak and holding the rally back a bit (forming a head & shoulders pattern maybe). GOOG on the other hand is hitting all time highs, so there is some divergence in the market. Biotech (IBB) continues to fire on all cylinders! Homebuilders (XHB) and HD also continue to do well. Also Healthcare (XLV). The market rally continues until it stops -let's see if earnings reports will spoil the party.
Some stocks are still very 'overbought' like GOOG, HD, DIS, WMT, etc.
This week's charts:
S&P 500 -another turning point, or a breakout next?
OptionsMakeSense
Crude Oil dropped, closing near $89.88
Natural Gas rallied, closing near $3.40
Gold was mostly unchanged, closing near $1779
The 30 year Bond dropped, closing near $147.50
The US Dollar was up, closing near 79.43
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