Stock Market update Aug 30th

Volatility continued this week with huge swings in both directions. The DOW opened the week by dropping over 1000 points, after China dropped more than 8%! Concerns about China, interest rate changes from the Fed, and other issues had traders on edge. Oil finally recovered some of its losses this week too, and the 2nd quarter GDP revision was also better than expected. Gold and Energy stocks rallied, and the market was actually up for the week! Aside from the currency, commodity,  and stock volatility, this coming week we also have the Jobs report due on Friday morning.

From a chart perspective (technical analysis), we have clearly broken support levels that were holding up all year, and broke them in a big way. This typically indicates further downside action to come. Sunday night Futures point to a 1% lower open on Monday, as China markets are already down 3%. Could be a rocky week.

New all time highs:    ATVI (being added to the S&P 500)
All time lows:    
Pops     BBY     Drops:        
Mergers/Deals:  

Next week:  Economic reports,   Monthly Jobs report on Friday

Earnings:      COST, CPB, DLTR, 

This week's charts:

S&P 500 -topped! 

CBOE VIX -still elevated
10yr Interest Rates -dropping?
Labor Force Participation Rate (10 year chart)

Commodities/Futures (charts):

Natural Gas was unchanged, closing at $2.67

Crude Oil finally rebounded, closing near $44.45

Gold dropped, closing near $1133 -holding above $1100

The 30 year Bond dropped, closing near 157.34 -could still be going to 165?

The US Dollar was unchanged, closing at 95.65

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