The market pulled back a bit this week after the Fed spoke on Wednesday. Will this be just another brief pullback in this 6 month rally, or a bigger correction? Only time will tell, but we are very extended at these levels. The US Dollar continues to rise, causing commodities to show weakness. Bonds continue to slide.
New all time highs: BIIB, CERN, COST, D, DLPH, GNC, SNH, TRIP, TSLA
All time lows:
Pops: -Drops:
Next week: Economic reports
Earnings reports:
Next week we have only 4 trading days because of the holiday on Monday. Wednesday's 'peak' in all the indexes, along with the MACD indicator may be indicating a bigger pullback here. Earnings season is pretty much over, so there isn't much to power the market in one direction or the other. In the tech arena, AAPL still seems tired, while GOOG is still in a longer term up-trend. The Utilities sector (XLU) seems to be correcting . GLD is still trying to find a bottom, and the Yen still pretty much seems like it wants to continue going lower.
Weekly Unemployment claims
S&P 500 -pullback?
OptionsMakeSense
Commodities/Futures (charts):
Crude Oil was up, closing near $92.62
Natural Gas was up
, closing near $4.26
Gold was up, closing at $1467
The 30 year Bond was up, closing near $149.1
The
US Dollar dropped a bit, closing near 82.38
NEWS:
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