Stock Market update -May 22nd

The market pulled back again this week, continuing the downtrend that started in mid-April. What to do? Short term traders follow the trend, while long term investors hold on or stand aside, since the market stopped moving up last summer, and seems to be building a longer term down-trend (just look at a 5 year chart).

Bonds pulled back a bit on rising Interest rate concerns -courtesy of the Fed. Oil continued to move up, while Gold dropped a bit and seems to be consolidating in this range.

Monthly Options expiration was on Friday -time to put on some new positions maybe.

WMT and AMAT popped on earnings,
CPB, DE, HRL, TGT dropped

New all time highs:  CHTR, CB, DHR, LOW, LLL, NVDA, WBMD
All time lows:  
Mergers/Deals:  Bayer makes unsolicited bid for Monsanto...
Staples' Merger With Office Depot Failed -- Should Its Investors Celebrate?

Next week:  Economic reports,   GDP report
Earnings:      AZO, BBY, DLTR, DG, HPE, PANW, ULTA,

This week's charts:

 No one's buying office supplies anymore??

Maybe everyone's buying Gold... the trend has reversed to the up side

S&P 500 -in a down trend
Gold dropped, closing near 1252
The 30 year Bond dropped, closing near 164.46
The US Dollar was up, closing near 95.29

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