Stock Market Blog -Mar 8th

The market broke out this week and it now looks like the S&P500 could be headed to the 1900 level! Next week marks the 5 year anniversary of this bull market from the depths of the 2008 financial crisis. The S&P500 has been up 178% since March 2009.

The unemployment rate rose for the first time in a long time! This week Bonds dropped, Gold and Oil dropped, and Grains rallied. WFC hit an all time high this week.

New all time highs:   AXP, BIDU, CBS, DAL, DIS, DFS, DTV,  ESRX, FL, HON, INTU, TRIP, QIHU, WFC...
All time lows:   -

Pops:   FCEL    Drops:  RSH, SPLS

Next week:  Economic reports,  

Earnings:     

Agricultural commodities!

Market Commentary

We did break out and hold above the 1850 level on the S&P500, and could be headed even higher as we approach the end of this first quarter. Many people were bearish based on how the quarter started, and are now in a losing position -welcome to Wall Street! We may not see a correction till the 2nd quarter.

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 and back down, closing at $102.58 -still over $100!
Natural Gas was mostly unchanged, closing  at $4.6
Gold was mostly unchanged, closing at $1338 -holding over $1300
The 30 year Bond dropped, closing at 131.15
The US Dollar was  down a bit, closing at 79.72

NEWS:

Bull market still has some sizzle
4 potential killers lurk as bull market hits 5
Chart: What’s the real unemployment rate?
Failure to launch: New businesses aren't creating enough jobs
TREASURIES-Yields highest in six weeks after solid jobs gains
UPDATE 2-Fuel Cell shares jump as investors bet on clean power
How many Chinese billionaires? Take a guess

Everything must go: There's a flood of store closings
Staples to Shut as Many as 225 Stores, Cut Costs by $500 Million
RadioShack to close up to 1,100 stores
Google's Motorola Mobility Layoffs:1,200 More Workers...
Toys 'R' Us says it will cut 200 jobs at headquarters