Stock Market update -Sep 6th

Another week of losses in the market, with the indexes closing down a little over 3%. The S&P500 may still test the low of August and/or last October, so fasten your seatbelt! The monthly Jobs report on Friday was kind of weak too.

Forget about all the talk about the Fed raising interest rates, or the problems in China, or the Dollar, and how it might affect the markets. Just trade what you see on the charts -"only price pays" (Brian Shannon). Trade what you see, not what you think.

No strength in any of the big names like NFLX, AAPL, AMZN, GOOGL, BAC, GS, XOM...
Implied Volatility (for Options traders) will probably remain high until after the Fed meeting this month.

GMCR and TWTR may be finally getting some buyers. Likewise for some of the beaten down stocks in Energy and Gold Mining -we could be close to a bottom in those two sectors. However, only 'trade what you see, not what you think'. AAPL is expected to make some new product announcements next week.

The Shanghai market may have much further to fall (below)!

New all time highs:    none!
All time lows:    
Pops          Drops:        DLTR, 
Mergers/Deals:  Canada's Emera to buy Teco Energy

Next week:  Economic reports,   

Earnings:       LULU, PANW

This week's charts:

Brazil, Russia, India, China

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 $2.65

Crude Oil was up a bit, closing near $45.77

Gold dropped again, closing near $1122 -but holding above $1100

The 30 year Bond was up, closing near 155.90  -could still be going to 165?

The US Dollar was up, closing at 96.23

NEWS:

Dow posts triple-digit drop, caps second worst week in 2015
Stocks Plumb New Lows in Volatile End to Week
‘Bearish divergence’ is warning investors not to buy the dip in the stock market 
US employers add 173K jobs in August; rate falls to 5.1 pct.
Leveraged Financial Speculation In The US At A Familiar Peak, Once Again

Here’s what to expect at Apple’s event next week
Report: Google planning to reenter China w/ special Play Store, Android Wear support, more
BlackBerry acquires Good Technology for $425 million, accelerates software plans
Does China's Stock Market Have Further To Fall?
Brutal! The two stocks down 70 percent in a year (vid)
Canada officially enters recession