Daily Investment Interpretations

May 27, 2009

2009-5-27:  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 NASDAQ Composite lost 19.35 points (-1.13%) to 1,731.06, the Dow divested itself of 173.47 points (-2.05%) to 8,300.02, and the S&P 500 sacrificed 17.27 points (-1.9%) 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 0.69 to 31.67.
    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 or Friday.