The Economic Rationalist's response to Valentine's Day:
(Tip: Don't do it. At best, you'll be in Purgatory for the next week. A worse case scenario: you'll be visiting the Emergency Room to have a Valentine's Day Card removed from a very tender part of the anatomy.)
Major U.S. Indices:
SP500 is now at a new all time high. Other indices have reached new medium term highs - except for the Dow Industrials which is lagging a little. Dow Utilities, however, continues to fall, down -1.61%.
Apple Inc. on Tuesday became the first company in history to have a market capitalisation of more than $700 Billion. It has been up since then on Wednesday, Thursday and Friday.
To put that in some perspective. $700 Billion is larger than the GDP of European countries such as Switzerland, Poland, Belgium, Norway, Austria.
Here's the detailed chart for the SP500:
The new high is a marginal break above the December, 2014 highs. Indicators are still not overbought. So there's probably more in this.
Commodities:
CRB Index up +1.37%. Energy up +3%. Industrial Metals -0.06%. But Gold ETF up +0.55%. US Dollar down marginally -0.04%.
Australian Stocks in NY:
BHP +4.88%. Rio +4.71%. Westpac +2.23%. ANZ +1.91%. EWA. +2.11%.
There are no nasties in there for Australia on Monday.
I hope everybody is drinking of Pisces Nectar.
Redbacka
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- Weekend Charting and Chat - 13 February 2015
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