The market pulled back a bit this week, as Bond prices edged up, and Commodity prices rallied. Earnings season is winding down and we could see some consolidation of the recent gains in the coming weeks. Next week should be a light week for earnings and for economic reports, and it's the summer too ...take a break?
New all time highs: DLPH, KORS, LTD, LGF, PCLN, TRIP, TYS, UA, YUM, Z
All time lows: --
Pops: FOSL, GRPN, PCLN, TSLA Drops -FSLR, FIO
Next week: Economic reports Monthly Options expiration.
Upcoming Earnings reports: CSCO, WMT
| Market Commentary |
The market has started to show sighs of breaking down from the highs, with the DOW leading the way. August Options expire on Friday, so I expect a mostly neutral week, and Options are still cheap, so you might consider buying Puts for portfolio insurance instead of using stops. Keep your eye on TLT to see if Interest rates continue to rise (TLT has been in a down-trend).
This week's charts:
10yr Interest Rates
Labor Force Participation Rate (10yr chart)
Commodities/Futures (charts):
Crude Oil dropped a bit, closing near $105.97 -still over $100.
Natural Gas was down, closing near $3.23
Gold was mostly flat, closing at $1312
The 30 year Bond was up, closing near $134.45
The US Dollar was down, closing near 81.17
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