Stock Market update -Jan 8th

Based on last year's January selloff, many people expected the same thing this year. It's not over yet, but so far we have a nice rally, with the VIX scraping the bottom! This week we begin to get earnings from the Banks, which had a nice run since the election. Bonds and Gold continued the short-term uptrend this week, while Oil was flat. We could see this stock rally continue as the DOW crosses the 20,000 mark this week, maybe...

We are now heading to $20 Trillion in debt! See Debt Clock on the left... let's see if we get there before the new president takes office!




It's anyone's guess as to what 2017 will bring, but here is a chart that shows the past 5 years?



...popped
M, KSS dropped

New all time highs:   CHTR, DE, NFLX, PGR, PNC, 
All time lows:   DRYS
Mergers/Deals:   

Options watch:   Implied Volatility is very low...  Link to high IVR stocks   
High volume:   SPY, IWM, QQQ, AAPL, FB, BAC, GLD, GDX, USO, VXX, XLF, FXI, EEM EWZ, XOP
CBOE VIX Volatility Index -scraping bottom!

Next week:  Economic reports,  
Earnings:      Banks...  BAC, JPM, WFC, 

This week's charts:


Links...
S&P 500 - post election rally resumed
Gold was up again, closing near 1174
The 30 year Bond was up again,  closing near 151.65
The US Dollar was mostly flat, closing near 102.28

NEWS:
Trump holds press conference; Banks report earnings; Rex Tillerson confirmation
Alphabet: Gearing Up For New Highs
Microsoft is killing Apple in every corner – What I’ve learned at CES 2017
Apple cuts Tim Cook's pay 15% for missing sales goals
Dear Apple, Please Fix Boring Problems This Year
Xiaomi hits $1 billion revenue in the world's fastest growing smartphone market

Macy's is closing 68 stores, cutting 10,000 jobs
Sears is closing 150 stores — here's the full list
Amazon Has Turned Sears and Macy's Into Graveyards

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