Stock Market Blog -Jun 9th

The market recovered some of its recent losses with the rally on Thursday and Friday. However the economy hasn't changed so I suspect the rally won't last this time. The US unemployment rate rose slightly to 7.6%.  Bonds also dropped, along with Gold, and other commodities. Brazil and China continue to drop. Junk Bonds have been selling off too.

 New all time highs:   AXP, BRK.B, CERN, DLPH, SBUX
All time lows:
Pops:  , ,    -Drops: 

Next week: Economic reports 
Earnings reports:  LULU

Market Commentary

 
The indexes bounced off the 50MA, just like it did on previous dips. We could be setting up for another leg up, but I suspect it's really setting up for another drop. This brief rally looks like short covering.

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:
3 reason the jobs numbers were bleh
U.S. Is Still 10 Million Jobs Away From Normal
Trouble Ahead at Apple