This Sunday night markets are rallying as Larry Summers took himself out of the running for the new Fed Chairman position.
New all time highs: AET, APC, BA, COP, CMI, DNKN, MYL, STZ, ULTA, WFM
All time lows: --
Pops: Drops:
Next week: Economic reports FED meeting!
Also, Options expiration, monthly & quarterly.
Earnings: FDX, ORCL
| Market Commentary |
Well, the market spoke and it said 'up'. It could keep going and take out the previous high from the beginning of August. Of course the rally could also fail near this level. The economy is somewhat lackluster, but the market keeps going up -stick with it till it turns if you are trying to trade the down-side.
If you trade Gold, we saw a big drop this week -the long term down-trend in gold is still intact, though the 50MA has turned back up. With any luck, this pullback might reverse here.
This week's charts:
10yr Interest Rates
Labor Force Participation Rate (10yr chart)
Commodities/Futures (charts):
Crude Oil was up, closing near $108.21 -still over $100
Natural Gas was up, closing near $3.68
Gold plummeted, closing at $1308
The 30 year Bond was up a bit, closing near $129.81
The US Dollar was down, closing near 81.45
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Does America's Shrinking Private Sector Signal Capitalism's Unmaking?
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