Stock Market Blog -Feb 17th

The market edged higher again this week, with the Smalll Cap Rssell 2000 hitting another all time high. This in spite of the Dollar moving higher! So much for that correlation. Gold dropped, approaching the $1600 level.

New all time highs:   ACN, CBS, DIS, GIS, GOOG, JNJ, LNKD, MYL, NWSA, PSX, STZ, TRV, etc.

All time lows: -
Pops: AOL, AVP, BCS, 
Drops:  A, CLF, NVO, RAX, ULTA

Next week: Economic reports  Markets are closed on Monday.
Earnings reports:  HPQ, INTU, WMT,

Market Commentary

 
No change from last week! "The market is very unpredictable here, though the up-trend is still intact. I think the S&P500 may see some more up-side, approaching the all time high. The NASDAQ 100 has been a laggard, but maybe AAPL will give it a boost."
Watch for WMT and HPQ earnings (DOW components).

This week's charts:

Weekly Unemployment claims
S&P 500 ...even higher?
OptionsMakeSense

  Still watching the VIX at these muli-year lows...

Commodities/Futures (charts):
Crude Oil was up then down, closing near $95.75
Natural Gas dropped, closing near $3.14
Gold dropped, closing near $1615
The 30 year Bond dropped, closing near $143.28
The US Dollar was up, closing near 80.71

NEWS:
S&P 500 rises for 7th week in a row
Wal-Mart Executives Sweat Slow February Start in E-Mails
Rich world heads into recession
Why Can’t This Economy Really Get Going?
Secular Bear Market “Hibernation”

U.S. Accuses S. & P. of Fraud in Suit on Loan Bundles
Global Debt Accumulation Reaches Record Levels
Bull Wagers Tumble Most This Year as Gold Bets Drop: Commodities
The Consequences of a Strong Dollar
Soros dumps gold as prices sink