Stock Market update Aug 30th

Volatility continued this week with huge swings in both directions. The DOW opened the week by dropping over 1000 points, after China dropped more than 8%! Concerns about China, interest rate changes from the Fed, and other issues had traders on edge. Oil finally recovered some of its losses this week too, and the 2nd quarter GDP revision was also better than expected. Gold and Energy stocks rallied, and the market was actually up for the week! Aside from the currency, commodity,  and stock volatility, this coming week we also have the Jobs report due on Friday morning.

From a chart perspective (technical analysis), we have clearly broken support levels that were holding up all year, and broke them in a big way. This typically indicates further downside action to come. Sunday night Futures point to a 1% lower open on Monday, as China markets are already down 3%. Could be a rocky week.


New all time highs:    ATVI (being added to the S&P 500)
All time lows:    
Pops     BBY     Drops:        
Mergers/Deals:  

Next week:  Economic reports,   Monthly Jobs report on Friday
Earnings:      COST, CPB, DLTR, 
This week's charts:


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 $2.67
Crude Oil finally rebounded, closing near $44.45
Gold dropped, closing near $1133 -holding above $1100
The 30 year Bond dropped, closing near 157.34 -could still be going to 165?
The US Dollar was unchanged, closing at 95.65

NEWS:
What a wild week for stocks!
The market correction explained — in 5 questions and answers
China Is Selling U.S. Treasuries And The Impact Could Be Huge
Comcast's super-fast cable Internet is coming

Why The Great Petrodollar Unwind Could Be $2.5 Trillion Larger Than Anyone Thinks
The Real Reason Commodities Collapsed
3 charts explain how oil is roiling world currencies
Brazil has 2 kinds of problems, and they're both bad


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Stock Market update Aug 23rd

Ugly day on Friday! This was the worst week we've seen in the market in years, going back to 2011, with the DOW losing over 1000 points. The indexes lost over 5% this week. We also saw big moves in Currencies and Gold. Until this week's huge drop, the S&P 500 had been moving sideways for the year.

We saw big drops in AAPL, DIS, and others.



Outlook? We could see a bigger correction, maybe down to  the October low -barring the government stepping in again to prop up the market like it has in the past.



Markets as of Sunday night... the selloff continues!

New all time highs:    None of any significance!
All time lows:    BABA, TWTR, LINE, LOCO, TFM
Pops          Drops:      AAPL, DIS, DE, FB,  ROST, TFM, WMT  
Mergers/Deals:  

Next week:  Economic reports,   GDP report
Earnings:      ANF, BBY, DG, TOL
This week's charts:

S&P 500 -topped! 
CBOE VIX -moving up
10yr Interest Rates -dropping!
Labor Force Participation Rate (10 year chart)

Commodities/Futures (charts):
Natural Gas dropped a bit, closing at $2.68
Crude Oil dropped again, closing near $40.29
Gold rallied, closing near $1159 -holding above $1100!
The 30 year Bond was up again, closing near 160.72 -could be going to 165!
The US Dollar was down, closing at 95.00

NEWS:
Dow, Nasdaq plunge 3% into correction
U.S. Stock Plunge Picks Up Speed
Get ready: A correction is coming
Markets are in a technical mess
Apple enters bear territory; tech stocks crushed
Google's Alphabet move was brilliant

Gold shining as markets tumble
Brazil is in crisis ahead of 2016 Olympics in Rio


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Stock Market update Aug 16th

The market had ups and downs this week but ended mostly unchanged. Gold was up, as was Bonds. Oil continued to drop. China announced a surprise currency devaluation.

Google announced a new company structure  with the new company being called 'Alphabet' (abc.xyz). WFM continued to drop.

AAPL continues trade below its 200MA, while the S&P500 is holding above its 200MA. GOOGL is trading way above its 200MA.


New all time highs:    ADBE, FBHS, LMT, NDAQ,
All time lows:    ARCO, LOCO, TRCO,  
Pops          Drops:        BABA, LOCO, KING, KSS, SHAK  
Mergers/Deals:  

Next week:  Economic reports,   Aug Options expiration
Earnings:      HD, HPQ

This week's charts:
S&P 500 -topping?
CBOE VIX -holding the lows
10yr Interest Rates -rising?
Labor Force Participation Rate (10 year chart)

Commodities/Futures (charts):
Natural Gas was up  a bit, closing at $2.81
Crude Oil dropped again, closing near $42.18
Gold was up, closing near $1113 -back above $1100!
The 30 year Bond was up again, closing near 158.06
The US Dollar was down, closing at 96.61

NEWS:
Alphabet (the new Google)
The world has a bigger problem than China’s currency devaluation

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Stock Market update -Aug 9th

The market dropped again this week. The big drop in AAPL contributed to the drop in the Nasdaq100. The Jobs report on Friday was pretty much as expected. Crude Oil continued to drop too.

Going forward, the DOW and Russell Small Caps look to be in a short term down trend, while the S&P and Nasdaq may well catch up and follow the same trend.


New all time highs:    Nothing?? Not a good sign!
All time lows:  TWTR  GRPN
Pops          Drops:    GMCR
Mergers/Deals:  

Next week:  Economic reports,   
Earnings:      
BABA, CSCO, Retailers 

This week's charts:
S&P 500 -topping?
CBOE VIX -holding the lows
10yr Interest Rates -rising?
Labor Force Participation Rate (10 year chart)

Commodities/Futures (charts):
Natural Gas dropped a bit, closing at $2.71
Crude Oil dropped again, closing near $46.77
Gold was down again, closing near $1095 -still below $1100!
The 30 year Bond was up again, closing near 156.46
The US Dollar was unchanged, closing at 97.34

NEWS:
Dow posts 7-day losing streak as oil declines; AmEx jumps
Stocks will be put to the test in week ahead
Chart: What's the real unemployment rate?

Apple puts big unveiling event on calendar: Report
We're 'losing' Apple: Technician
Tweet this: Twitter has lost nearly half its value in 4 months
Oil becoming a bit of a death spiral: Strategist


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Stock Market update -Aug 2nd

The markets rebounded a bit, but the charts still show weakness for the year. Looks like we'll maybe grind our way lower, till the bottom falls out and the selling accelerates.

Second-quarter GDP came in at a paltry 2.3%. CVX, XOM and others in the energy sector reported weak profits. FB stock, like AAPL, disappointed many investors that were expecting a big rally on earnings. We get a few more companies reporting next week.


New all time highs:    AMGN, CCE, DIS, DHR, EXPE, FTNT, GIS, HD, LGF, NKE, RCL, SKX, UA, WETF
All time lows:  AU, LINE, YNDX, GDX?
Pops   BWLD, PNRA, SKX       Drops:    BIDU, LNKD, TWTR, YELP
Mergers/Deals:  

Next week:  Economic reports,   Monthly Jobs report on Friday
Earnings:      
M:  
T:  DIS, REGN
W: TSLA
T:  AGN
F:  

This week's charts:
S&P 500 -topping?
CBOE VIX -holding the lows
10yr Interest Rates -rising?
Labor Force Participation Rate (10 year chart)


Earnings Pops & Drops this week (link)

Commodities/Futures (charts):
Natural Gas dropped a bit, closing at $2.71
Crude Oil dropped again, closing near $46.77
Gold was down again, closing near $1095 -still below $1100!
The 30 year Bond was up again, closing near 156.46
The US Dollar was unchanged, closing at 97.34

NEWS:
Stocks close higher for July amid earnings, global growth concerns
Gross: Low rates are the problem, not the solution
Gold falls 6.5% in July, biggest monthly fall in 2 years
Gold could sink to $800: Yamada (vid)

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Stock Market update -Jul 26th

We got a pullback this week, in spite of the big rally in AMZN and others. What goes up must come down -the Nasdaq was very extended. AAPL dropped after earnings, as did other DOW stocks CAT, IBM, MMM, UTX, and others (BIIB plunged). Meanwhile Gold, Oil, and other commodities continued to drop this week. Bonds were up.

The DOW is now in a losing position for the year and we may be seeing the start of a correction in the market.  I stand by my comment earlier this year that we are forming a big rounded top.

U.S. jobless claims drop to 41-1/2-year low


New all time highs:    AMZN, FTNT, ITEK, LGF, PANW, SBUX, SYK, TWC, V, VRX
All time lows: WIN
Pops    AMZN, CMG, ISRG, V      Drops:    BIIB, CAT, IBM, MMM, UTX
Mergers/Deals:  Anthem to buy Cigna,   AT&T buys DirecTV

Next week:  Economic reports,   Fed meeting
Earnings:      
M:  BIDU
T:  BP, CTXS, DD, ESRX, F, GILD, MRK, PFE, TWTR, UPS, X
W: DATA, FB, HUM, MA, MO, ORLY, SKX, WFM
T:  AMGN, COP, FEYE, VLO, EXPE, PG, OXY, 
F:  CVX, XOM

This week's charts:
Gold was down again, closing near $1098 -now below $1100!
The 30 year Bond was up, closing near 154.71
The US Dollar was unchanged, closing at 97.35

NEWS:
Stocks plunge more than 2% for week on earnings, global growth concerns
The clock is ticking for stocks: Acampora (Wed)
Is the Dow’s underperformance a big opportunity?
Visa earnings sail past forecasts; stock pops 6%
Amazon is now worth WAY more than Walmart
Anthem to acquire Cigna, leaving only 3 big insurance companies

Apple stock tumbles as iPhone sales disappoint
Apple's iPhone suppliers are getting crushed
As it happened: Apple falls 7% after weak forecast
Biogen is crashing after cutting the outlook for its blockbuster drug
Gold ETFs Aren’t Finding Support From India This Time

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Stock Market update -Jul 19th

Big run up in the market this week, helped by the Greece resolution, and a huge earnings pop from Google and Netflix. Stocks and bonds were both up this week!

Big week for earnings reports next week...


New all time highs:    AMZN, DIS, DG, EA, FB, GOOGL, MA, NKE, NFLX, SBUX, V, etc.
All time lows:  LINE
Pops    GOOGL, NFLX      Drops:  
Mergers/Deals:  

Next week:  Economic reports,   
Earnings:      
M:  IBM, MS
T:  AAPL, CMG, MSFT
W:  BA, , AXP, KO, QCOM, TXN
T:  AMZN, CAT, CELG, GM, MMM, MCD, LLY, , SBUX, VRX, V
F:  BIIB
Also:   ISRG   YHOO  CMCSA VZ T  HAL UTX TRV    

This week's charts:
S&P 500 -nice rally!
10yr Interest Rates -rising
Labor Force Participation Rate (10 year chart)


Commodities/Futures (charts):
Natural Gas was unchanged, closing at $2.88
Crude Oil dropped again, closing near $50.78
Gold was down again, closing near $1132 -approaching $1100!
The 30 year Bond was up, closing near 152.09
The US Dollar was up, closing at 97.99

NEWS:
Nasdaq jumps to another record as Google surges
(Podcast) Is Gold Headed Below $1,000?
The Bankruptcy Of The Planet Accelerates - 24 Nations Are Currently Facing A Debt Crisis 
China Dumps Record $143 Billion In US Treasurys In Three Months Via Belgium

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Stock Market update -Jul 12th

Lots of volatility this week as uncertainty lingers with the Greece situation, and the ongoing market plunge in China. The S&P has held below the breakdown level we saw two weeks ago, and could continue to break down maybe to 2050 or even 2000, unless maybe we see a turnaround next week.

Earnings kicks off next week for yet another quarter, including many banks, GOOGL and NFLX, with the rest to follow in the coming weeks...  The Fed also speaks before Congress next week, and lastly we have Options Expiration for July -should be an interesting week.


New all time highs:    BMRN, CVS, EA, DIS, DG, HCA, SKX, TSO, ULTA, WBA, 
All time lows:  LINE, PGH
Pops    ,      Drops:   AMD, CUDA
Mergers/Deals:  

Next week:  Economic reports,   
Earnings:      
M:
T:  JPM, JNJ, WFC, YUM
W: BAC, INTC, NFLX, PNC
T:  BBT, C, GS, EBAY, GOOGL, UNH
F: GE, HON

This week's charts:
S&P 500 -dropping further?
10yr Interest Rates -rising
Labor Force Participation Rate (10 year chart)

A few losing stocks...

Commodities/Futures (charts):
Natural Gas was unchanged, closing at $2.77
Crude Oil dropped again, closing near $52.81
Gold was down a bit, closing near $1162 -holding below $1200
The 30 year Bond dropped, closing near 149.47
The US Dollar was down a bit, closing at 95.97

NEWS:
Dow ekes out weekly gain as overseas worries fade
Microsoft to lay off up to 7,800
Has Apple peaked?

Greece bailout: Deal still far away
China’s miracle is over — now comes the nightmare
Opinion: China’s stock-market crash is just beginning

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