May 27, 2009
The indices fell back today as GM spiraled toward bankruptcy and the
Treasury had to pay higher interest rates to sell its bonds.Wall Street
was not amused. The
itself of 173.47
8,300.02, and the S&P 500 sacrificed 17.27
to close at 893.06. Oil rose
to a new high of $64.81
a barrel after broaching $65 a barrel, while gold
advanced to $963.
The VIX dropped
My technical advice also suggests that the markets appear to be digesting their gains...
prefatory to another leg up.
Busy days! I hope to have more time to write tomorrow