Stock Market Blog -Jan 13th

This was a pretty quiet week in the markets. Next week we may see some more action as we begin earnings reporting season, with the week after that being the big one. The Euro spiked up this week, while the Yen continued its downward spiral. Gold looks to be getting weaker. Bonds are on the weak side too, and so is the Dollar. Even AAPL is weak, in spite of a strong stock market.

New all time highs:  AGN, CVS, CELG, PPG, TRV, UNP
All time lows: -
Pops:  BBY, CELG, INFY
Drops:

Next week: Economic reports  
Earnings reports:
Mon -
Tue -
Wed -GS, JPM, EBAY
Thu -BAC, C, UNH, INTC
Fri -GE

Market Commentary

Basically the same commentary as last week! "Now that the fiscal cliff news is over, the next market catalyst will be earnings reports over the next few weeks. We could break above resistance on the S&P500, or bounce off. Maybe take a position, and use a close stop, or wait for the trend to develop. With earnings coming up, volatility typically rises on individual stocks, presenting better opportunities with Options plays.  Volatility is also very low on the overall market, possibly hinting at a turnaround in this rally."

The market looks like it still wants to creep a little higher... maybe the DOW will reach up for the previous high (the S&P has already taken it out).

This week's charts:

Weekly Unemployment claims
S&P 500 ...topping?
OptionsMakeSense

                                                 The Euro spiked up, while the Yen continued to drop (USD/JPY up)

Commodities/Futures (charts):
Crude Oil was up, closing near $93.56
Natural Gas was up slightly, closing near $3.33
Gold was up, closing near $1660
The 30 year Bond was up a bit, closing near $145.28
The US Dollar dropped, closing near 76.91

NEWS: