Stock Market update -Jan 10th

2016 started on a very ugly note with the market down all week, sparked by huge drops in China's stock market. We appear to be headed back to the August lows, a drop that was also sparked by actions in China! We could also start to see more volatility in Currency markets this year.

The monthly Jobs report on Friday came in better than expected. Oil continued to drop, while Gold is showing some strength. Bonds are rising too!

The S&P 500 is showing lower highs and lower lows since early November -that's the definition of a downtrend.

Dow closes down triple digits as stocks end one of worst first weeks ever
NFLX rallied this week and continues to hold up
The Financials pulled back (XLF)
CMG continued to slide
GPS, GPRO, and FOSL continued to slide, among others
WMT rallied and showed a short reversal this week
AAPL closed under $100 -my take on Apple: they are a 1 trick pony (iPhone), in a highly competitive market. Its only a matter of time before sales and margins get squeezed.
Macy's announced layoffs and store closings

New all time highs:   nothing of any significance!
All time lows:  FEYE, FDC, RACE, SDRL, TWTR
Pops:          Drops:     
Mergers/Deals:  

Next week:  Economic reports, Earnings kickoff!

Earnings:            

MON -
TUE -
WED -
THU -INTC, JPM, 
FRI -C, WFC

This week's charts:

... Small-caps & Transportation leading us down ...

S&P 500 -heading for the August low?

CBOE VIX 
10yr Interest Rates -
Labor Force Participation Rate (10 year chart)
Fear & Greed Index

Commodities/Futures (charts):

Natural Gas was up, closing near 2.47 

Crude Oil dropped again, closing near 32.88 -approaching $30!

Gold rallied, closing near 1104

The 30 year Bond was up, closing near 156.59

The US Dollar was down a bit,  closing near 98.46

NEWS:

After dreadful week, stocks look for reason to bounce
S&P 500 'in a world of pain' so sell any rally: Technician
This isn't like 2008—but a correction IS coming
Soros: It's the 2008 crisis all over again
Nearly half of U.S. stocks are in a bear market

5 Stocks That Destroyed Shareholders This Past Week
Apple stock plunges below $100. Next stop: $65?
Q4 Earnings Season Takes the Spotlight
China Finds $3 Trillion Just Doesn't Pack the Punch It Used To
Something 'massive' is happening in the economy: Pal