Stock Market Blog -Jun 2nd

The S&P500 started a down move on this final day in May -lets see what June brings. The DOW was down just over 200 points on Friday. Bonds have been selling off, so has Gold, while the US Dollar has been rising, and other currencies falling. Japanese markets sold off too. We could be finally seeing a turning point in the markets here -we'll have to see how long it lasts.

TSLA finally stalled this week...
High yield ETFs selling off (HYG)

Market starting a correction?

US dollar up-trend...

Real estate and Utilities breaking down..

New all time highs:   AEGR, AXP, CERN, JAZZ, LGF, TRIP,
All time lows:
Pops:  KKD, OVTI,    -Drops:  PANW

Next week: Economic reports  Monthly Jobs report on Friday.
Earnings reports:  DG

Market Commentary

 
Looks like we are beginning a correction in this extended rally. This could be the 'big' correction so many traders have been expecting. If we get a bounce, it may be a good shorting opportunity for market ETFs or individual stocks. Also, this was the worst month for the Bond market in a long time, with interest rates finally starting to go up .

This week's charts:

Weekly Unemployment claims
S&P 500 -correction

Commodities/Futures (charts):
Crude Oil dropped, closing near $91.97
Natural Gas dropped, closing near $3.98
Gold was down, closing at $1392
The 30 year Bond dropped, closing near $141.06
The US Dollar dropped a bit, closing near 83.40

NEWS:
Month-End Selloff: Stocks Drop 1%...
This Chart Shows Dow Should Be Lower...a Lot Lower
The dividend craze may be over