Daily Investment Interpretations

October 17, 2008

2008-10-17: It looks to me as though the markets may have successfully retested their lows today. Of course, we'll have to see what kind of follow-through we have. The Nasdaq climbed 89.38 points to close at 1,717.71, the Dow added 401.35 to close at 8,979.26, and the S&P 500 advanced 38.58 points to hit 946.43. Oil fell $4.69 to end the day at $71.23 a barrel, and gold fell $34.50 to 804.50. After hitting an all-time high of 81 this afternoon, the VIX ended at 67.61.
    Uh,oh! One thing the rally isn't: a key reversal, says Mark Hulbert.