Stock Market Blog -Aug 24th

Another non-stop rally this week as the 'shorts' scrambled to cover their positions! AAPL also finally crossed the $100 mark, hitting an all time high. Gold and Oil dropped.

New all time highs:      AAPL, DIS, EXPE, EXAS, FL, GILD, GMCR, INTU, LUV, M,  NFLX, TRN, and more...
All time lows:   -

Pops:    CRM, GMCR, HD, ROST, TJX    Drops:  SHLD

Next week:  Economic reports,  

Earnings:     ANF, BBY, DG, TIF, 

Market Commentary

We continue to see strength in the market with the S&P500 approaching 2000, another all time high. The bigger up-trend is still intact. The Nasdaq continues to stage an impressive rally, while the Small-cap Russell 2000 continues to underperform. Having rallied almost non-stop for 2 weeks, I expect we'll see some kind of pullback or consolidation next week.

Implied Volatility in the Options market dropped again this week.  This may be an opportunity to buy VIX related options.

This week's charts:

S&P 500 -New all time high!
10yr Interest Rates -dropping!
Labor Force Participation Rate (10 year chart)

Commodities/Futures (charts):
Crude Oil was down, closing around $93.65 -holding under $100!

Natural Gas was mostly unchanged, closing near 3.84
Gold dropped, closing at $1280 -back under $1300

The 30 year Bond dropped, closing near 140.44

The US Dollar was up, closing near 82.34

NEWS: