May 18, 2009
Well whadd'ya know? The indices rocketed upward by about 3% today,
bringing them more than halfway back to their May 8th highs. So much for
pre-market indicators! The NASDAQ
8,504.08, and the S&P 500 relinquished 26.83
to close at 909.71.
Oil rose to $59.25. Gold declined $10
to close at $922, while the VIX sank 2.88
30.24... a "new" low.
Pre-market market indicators are pointing toward a lower Monday morning
opening, with the S&P 500 off more than 7 points and the Dow down
about 89 points. Of course, this is very preliminary, but -7 points takes
the S&P 500 down close to its 875
My investment advisory service is speculating that the
economy is either bottoming now or will bottom this summer. At the same
time, they're not at all claiming certainty regarding what's coming next.