Daily Investment Interpretations

July 10, 2009

2009-7-10:  Another mincing day in which the markets have sidled slightly lower. The NASDAQ Composite rose 3.48 points (0.2%) to 1,756.03, the Dow shed  36.65 points (-0.45%) to close at 8,146.52, and the S&P 500 gave back 3,55 points (-0.4%) to end at 879.13  Oil dropped below $60 a barrel to $59.89 a barrel, while gold dropped $4 to 913. The VIX declined 0.74 to 29.00.
     For three trading days now, the indices have hovered around their resistance levels:
880 on the S&P 500, 1,750 on the Nasdaq, and 8,200 on the Dow. Meanwhile, the VIX dropped to 26.81 on June 11th, when the S&P hit a high of 1,556. (The VIX bottomed on July 1st at 24.8.) The S&P 500 is now off 7% from its high, but for better or for worse, the VIX isn't up terribly high from its recent lows.)