Market Recap For 20th Jul 2015 – THIS was the biggest drop in years for commodities…

By Markus Heitkoetter

It was a slow start to the week. But stocks continued their march upward and ended the day higher across the board.

Once again it was the NASDAQ that soared above the rest. With a .17% gain and close of 5218.86, the NASDAQ had another record breaking day. It was the 3rd consecutive new all-time high close for the index.

The S&P ended the day with a .08% gain and close of 2128.28. The S&P made an attempt at its record, coming within 2 points of the record high set in May.

The DOW mirrored the S&P with a .08% gain. The DOW closed at 18100.41, just 14 points higher.

While stocks ended the day slightly higher, commodities were crushed. Crude Oil (CL) lost 1.72% and ended the open outcry session at $50.33 a barrel.

But it was Gold (GC) that was hammered. With a 3.11% drop and close of 1096.7 an ounce, Gold had its worst day since 2013 and hit lows not seen in over 5 years.

Without any major reports on the calendar tomorrow, the biggest news for tomorrow will be Apple (AAPL) and its earnings release tomorrow after the bell.

Apple Inc (AAPL) continued its move higher with another 1.89% gain today. AAPL is trading higher ahead of tomorrow afternoon’s earnings release. PowerX traders are targeting a profit target at $134.72, but conservative traders might consider an exit before tomorrow’s release.

A PowerX Method Buy Signal was identified on July 15th.

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