Stock Market update -Aug 28th

The market pulled back a bit this week, with heavy trading volume on Friday (Fed day) -the heaviest volume since Brexit! We could be forming a top here on the S&P 500 near the 2200 level. Next week's Jobs number might be a catalyst for the next move up or down. Gold and Bonds seem to be slipping lower. Oil is holding up so far.

DG, DLTR, ULTA dropped on earnings...  ADSK, BBY popped

New all time highs:  ADBE, ADSK, AVGO, NTES, WB
All time lows:  
Mergers/Deals:  

Options watch:   Implied Volatility still at extreme lows...  Link to high IVR stocks   
High volume:   SPY, IWM, QQQ, AAPL, FB, BAC, HYG, GLD, GDX, USO, VXX, XLF, FXI, EEM EWZ, XOP

Next week:  Economic reports,   Monthly Jobs report on Friday!
Earnings:      ANF, AMBA. AVGO, CRM, LULU
This week's charts:


NASDAQ -16 years to get back to even!


The S&P 500 got there a long time ago...


NYSE still struggling to get to the 2015 highs


Links...
S&P 500 - holding near all time highs!
Gold dropped, closing near 1324
The 30 year Bond dropped a bit, closing near 170.40
The US Dollar was up a bit, closing near 95.50

NEWS:
Stocks close mixed after Fed commentary; Nasdaq snaps 8-week win streak
Losses Piling Up for S&P 500 as Weekly Drop Is Worst Since June
Second-quarter GDP still weak: 1.1%
Stock market could test new highs as rate hike jitters fade
Hedge Funds Suffer Biggest Redemptions Since 2009 as Returns Lag

Dollar-Store Chains Tumble After Food-Stamp Cuts Hamper Sales
Apple's iOS 'Failure Rate' Is Higher Than Android's For First Time
iPhone 6 and 6 Plus Plagued by ‘Touch Disease’
Why Tableau just hired Amazon Web Services guru Adam Selipsky to be its new CEO
Linux Took Over the Web. Now, It’s Taking Over the World

Posted by 123Trader

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