Stock Market Blog -Feb 16th

The market (S&P500) continued to rally for a second week, erasing most of the losses from the beginning of the year! With earnings out of the way, and no more debt ceiling concerns, there appears to be little in the way to really trip up this market. The DOW and the Small-cap Russell 2000 (IWM) are lagging, and still need to take out this year's losses. Gold rallied past $1300, and Oil closed just over $100.

FB and GOOG hit an all time high again this week!
CSCO and WFM dropped after reporting earnings.

New all time highs:   ADBE, ALXN, CBS, CRM, DIS, DFS, ESRX, FB, GOOG, ORLY, TWC, and more...
All time lows:   -

Pops:  TWC      Drops:  RAX, WTW, WFM

Next week:  Economic reports,   Markets are closed on Monday!!

Earnings:    GRPN, HLF, HPQ, KO, PCLN, TSLA,  WMT, 

10 year Biotech performance!

Market Commentary

Last weeks comment: "We could see this reversal continue next week and maybe take out the 1800 level again." -we did it, and then some!

I think the rally will continue some more till the Small-Caps and the DOW catch up to the S&P and take out the highs for the year. After that we'll have to wait and see what happens. Keep an eye on WMT earnings next week too.

This week's charts:

S&P 500 -back on top!
10yr Interest Rates
Labor Force Participation Rate (10 year chart)

Commodities/Futures (charts):
Crude Oil was up, closing at $100.30 -closed over $100!
Natural Gas rallied, closing  at $5.21
Gold rallied, closing at $1318 -back over $1300!
The 30 year Bond dropped, closing at 132.91
The US Dollar was down, closing at 80.18

NEWS:
Worst over for stocks? Depends on earnings
Dividend hikes, consumer clues eyed in week ahead
There's just no making sense of this stock market

Obama signs increase in U.S. debt ceiling
World's biggest PC maker posts 30% profit jump (vid)
The price of gold is above $1,300 an ounce for the first time in months... (vid)
Tom Perkins: Taxes will lead to 'economic extinction' of the 1%