Stock Market update: Stock Market Blog -Mar 30th

The market was looking tired this week, as the Nasdaq and Small Caps lost some more ground. Many of the recent hi-fliers have pulled back this month like AMZN, GOOG, GILD, NFLX, DATA, PCLN, TRIP, TSLA, etc. Even Gold pulled back almost $100. Oil was up however, closing over $100 again on Friday.

The Candy Crush IPO was a disappointment to investors (KING)
Don't forget the GOOG stock split this week!

New all time highs: ?? no hot stocks this week...
All time lows: -

Pops: LULU Drops: BBRY

Next week: Economic reports, ...end of Q1; Monthly Jobs report on Friday

Earnings:

A sign of things to come?

Market Commentary

The Russell Small-Caps (IWM) and the Nasdaq 100 (QQQ) are breaking down more than the DOW and S&P500. We could see the S&P500 break down in a similar manner, maybe as earnings season starts in a couple of weeks. On the other hand, with the resiliency this market has shown in the past few years, we could well see a recovery from this sell-off. Near term, the Jobs report on Friday could be a catalyst to move the market in one direction or the other. I have no directional bias at this point.

Maybe you can trade a small bounce in the some of the hi-fliers that have sold off recently. Implied Volatility has risen in those names (FB, NFLX, BIDU, PCLN, etc.)

This week's charts:

S&P 500 -topping?
10yr Interest Rates
Labor Force Participation Rate (10 year chart)

Commodities/Futures (charts):
Crude Oil was up, closing around $101.42 -back above $100!
Natural Gas was mostly unchanged, closing at $4.46
Gold dropped again, closing at $1296 -so much for $1400!
The 30 year Bond was up, closing at 133.40
The US Dollar was mostly unchanged, closing at 80.32