Daily Investment Interpretations
November 10, 2009
The markets were basically unchanged today. The NASDAQ
to end at 2,151.06,
the Dow jumped 20.03
end at 10,246.97,
and the S&P 500 ended
a barrel, while gold
hit another new high at $1103.
The VIX fell 0.31
I had estimated that if the markets continued to make the kinds of waves they've made since March, the S&P 500, currently at 1,093, should reach about 1,130 next week, and should fall back to a minimum around November 30th. However, this last dip was deeper than prior declines, and the peak could be lower, with markets "rolling over" at a market top. The overall multi-month, mini-bull market might be nearing its peak, and might correct or worse after the end of this year.
This is the first down day (if it can be called a down day) after six up days in a row that have raised the S&P 57 points.
The markets have moved up because it's become evident that the Fed isn't worried about inflation and isn't planning to raise interest rates any time soon.