Stock Market Blog -Feb 23rd

The market seemed to be stuck in a range this week. FB managed to cross $70, a new all time high. PCLN also reached a new all time high after reporting earnings. And believe it or not, DIS also reached a new all time high. Next week we'll probably see whether the market will continue the long term up-trend and break out higher above this resistance level.  Commodities have been on the rise too.

New all time highs:   BIIB, DTV, CBS, CRM, DATA, DIS, EXPE, PCLN, INTU, LNG, MAR, TSN, UA...
All time lows:   -

Pops:  FRX, SSTK      Drops:  GRPN, 

Next week:  Economic reports,   

Earnings:     GPS, HD, LOW, TGT, M, JCP, BBY

Market Commentary

The S&P500 tried, but couldn't break through the 1850 level. Friday was options expiration for February, and with that out of the way, maybe now we'll see a breakout or a breakdown. The S&P500 has been stuck at the current level all week.  After the big breakdown we saw in January with heavy volume, I think the risk is still to the down side.

This week's charts:

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

Commodities/Futures (charts):
Crude Oil was up, closing at $102.20 -still over $100!
Natural Gas saw a big rally, closing  at $6.13
Gold rallied a bit, closing at $1323 -holding over $1300
The 30 year Bond was mostly unchanged, closing at 133.10
The US Dollar was  mostly unchanged, closing at 80.27

NEWS:
What's next: Earnings and business reports due February 24-26 (Video)
All-time highs are 2 weeks away: BofAML technician
Is Facebook's acquisition of WhatsApp a desperate move?
Why Shutterstock is up 500% since IPO (vid)
Apple looks an awful lot like Microsoft: Pro
How the big money is betting on gold now
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