Stock Market Blog -Jun 29th

The market was mostly flat this week as we approach the end of the month, and the quarter. The market held up in spite of a very disappointing GDP report.  Bonds rose slightly, driving interest rates a little lower again. Gold was flat, like the rest of the markets.
Between now and the start of earnings reports in a couple of weeks, we could see a dull market as summer season begins as well.

 

New all time highs:   ATVI, AGN, CCE, FL, LNG, SLB, TRIP

All time lows:   -

Pops:    MTW,    Drops:  

Next week:  Economic reports,  **Monthly Jobs report**  -short week : Happy 4th July!

Earnings:     


 

Market Commentary

I continue to think we will see the S&P500 hit the 2000 mark, and the Small Caps (IWM -Russell 2000) finally take out their previous high near 120. the long term up-trend is still in place.

Implied Volatility in the Options market continues to hold near multi-year lows. If you are an Options trader, because of the low Volatility, this is a good time to trade Calendar Spreads, or trade long positions on the VIX or other volatility products.

This week's charts:

S&P 500 -holding at the highs
10yr Interest Rates -
Labor Force Participation Rate (10 year chart)

Commodities/Futures (charts):
Crude Oil was mostly flat, closing at 105.74-holding above $100

Natural Gas dropped a bit, closing at 4.40
Gold was up a bit, closing at $1320 -holding above $1300
The 30 year Bond was up a bit, closing near 136.91

The US Dollar was down a bit, closing at 80.08

NEWS:

Stocks end mildly up; second weekly gain for Nasdaq
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Google's vision: Android everywhere

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