Stock Market Blog -Oct 6

The market was down slightly for the week, as the government shutdown continues. Bonds were mostly unchanged, so was Gold, while Oil rallied a bit. Looks like we're in wait & see mode.  FB is holding up above $50 so far.  TSLA dipped, but rallied back on Friday.  PCLN is holding up above $1000 per share.

DG and DLTR are at all time highs -a reflection of the economy?

New all time highs:    CELG, DG, DLTR, DAL, MYL, STZ, 
All time lows:  JCP

Pops:  --   Drops:  JCP

Next week: Economic reports   
Earnings:  AA kicks off earnings this week. Also COST, YUM, JPM and WFC.

Labor Force Participation Rate (10yr chart)

Market Commentary

We're at a support level here in the S&P500 so we could bounce up from this recent sell-off. October could be a volatile month, especially with earnings around the corner, so be careful. The longer term trend is still up, and we're holding just above the 50MA on the S&P500.

Options Implied Volatility is on the rise, so it's a good time to sell options or option spreads.

This week's charts:

S&P 500 -rally up next, or breakdown?
10yr Interest Rates 
Labor Force Participation Rate (10yr chart)

Commodities/Futures (charts):
Crude Oil was up, closing near $103.84 -still over $100
Natural Gas dropped, closing near $3.50
Gold was down slightly, closing at $1310
The 30 year Bond was mostly unchanged, closing near $132.97
The US Dollar dropped a bit, closing near 80.22

NEWS:
Stocks bounce back after steep slide
Trading Radar: Prepare for Third Quarter Earnings Next Week!
Wall Street digs in for a debt default
Companies are stashing away billions overseas
Forget Apple, Google…this is Nasdaq 2.0
Five years after crisis, families are hoarding cash