Stock Market Blog -May 11th

Another week of sideways action in the S&P500. The 10yr note was up a bit (lower interest rates), while Gold ended flat after a rally on Monday. I still think the S&P500 is trying to take out the 1900 level. Commodities dropped as we saw a small rally in the US Dollar.

TWTR and WFM dropped after reporting earnings. GRPN and TSLA also dropped. GMCR rallied

New all time highs:  
All time lows:   -

Pops:  EA, GMCR, ODP    Drops:   GRPN, TSLA, TWTR, WFM, 

Next week:  Economic reports,   * * Options expiration for May * *

Earnings:     

Market Commentary

If you look at a daily chart of the S&P500 it's been hovering in the 1850 to 1880 area, the DOW has been trying to get through the 16600 level, while the NASDAQ and the Russell 2000 have been in a downtrend. This divergence will probably correct itself soon. If the S&P and DOW break through resistance, then we'll probably see a nice rally in the NASDAQ and Russell. Of course, it could always break in the other direction with everything heading further down -only time will tell.

This week's charts:

S&P 500 -still forming a top?
10yr Interest Rates
Labor Force Participation Rate (10 year chart)

Commodities/Futures (charts):
Crude Oil was up a bit...  -holding below $100
Natural Gas dropped
Gold was mostly unchanged
The 30 year Bond was mostly unchanged

The US Dollar dropped a bit

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