Stock Market Blog -Aug 17th

We got a nice bounce this week as the monthly Options for August expired on Friday. The VIX dropped accordingly. The NASDAQ almost closed at an all time high on Friday. Bonds also rallied with stocks which is unusual, so we'll probably see one of them pull back next week. Oil couldn't rally -looks like we could see more downside action to just under $95. Tensions continued in the Ukraine area, along with the problems in Iraq.

New all time highs:      AMGN, BRK.B, CVS, DIS, GILD, HD, LUV, -the usual suspects
Also ADM, INTU, FISV, MAR, TTM, CAR, SKX  
TSLA hit a record high this week too...
All time lows:   -KING

Pops:    ICPT, MNST  Drops:  CZR, KING, SEAS

Next week:  Economic reports,  ...the 'Fed' speaks next week; also CPI on Tuesday

Earnings:     CRM, DLTR, FL, GME, HPQ, HD, INTU, LOW, SPLS, PETM, TGT

Market Commentary

Maybe this bounce is an opportunity to take a 'short' position in this area if it turns... we'll see what next week brings, but it looks like the up-trend may have broken for the short-term with the pullback we got a few weeks ago. However the list of  'all time highs' above still looks good, so be careful!

Implied Volatility in the Options market dropped this week.  Also, VIX futures expire next week.

This week's charts:

S&P 500 -will it rally through the 50MA?
10yr Interest Rates -dropping!
Labor Force Participation Rate (10 year chart)

Commodities/Futures (charts):
Crude Oil was mostly unchanged, closing around $97.35 -holding under $100!

Natural Gas was down a bit, closing near 3.77
Gold was up a bit, closing at $1306 -back over $1300

The 30 year Bond rallied, closing near 141.03

The US Dollar was mostly unchanged, closing near 81.47

NEWS:

Stocks close mixed on renewed geopolitical concerns
Monster Beverage pops on Coca-Coal deal; Nordstrom drops
Wal-Mart joins retail miss parade as sales disappoint
Macy's miss doesn't bode well for other retailers
Cisco cutting 8% of workforce, or 6,000 jobs, in restructuring plan
Time to short the bond market or the stock market?

HUI, Gold & Silver; Fun With Monthly Charts