Stock Market update -Aug 2nd

The markets rebounded a bit, but the charts still show weakness for the year. Looks like we'll maybe grind our way lower, till the bottom falls out and the selling accelerates.

Second-quarter GDP came in at a paltry 2.3%. CVX, XOM and others in the energy sector reported weak profits. FB stock, like AAPL, disappointed many investors that were expecting a big rally on earnings. We get a few more companies reporting next week.

New all time highs:    AMGN, CCE, DIS, DHR, EXPE, FTNT, GIS, HD, LGF, NKE, RCL, SKX, UA, WETF
All time lows:  AU, LINE, YNDX, GDX?
Pops   BWLD, PNRA, SKX       Drops:    BIDU, LNKD, TWTR, YELP

Next week:  Economic reports,   Monthly Jobs report on Friday

This week's charts:
S&P 500 -topping?
CBOE VIX -holding the lows
10yr Interest Rates -rising?
Labor Force Participation Rate (10 year chart)

Commodities/Futures (charts):
Natural Gas dropped a bitclosing at $2.71
Crude Oil dropped againclosing near $46.77
Gold was down again, closing near $1095 -still below $1100!
The 30 year Bond was up again, closing near 156.46
The US Dollar was unchangedclosing at 97.34

Stocks close higher for July amid earnings, global growth concerns
Gross: Low rates are the problem, not the solution
Gold falls 6.5% in July, biggest monthly fall in 2 years
Gold could sink to $800: Yamada (vid)

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