Daily Investment Interpretations

July 14, 2009

2009-7-14:  The markets were mixed today, with the Dow dropping a little, and the Nasdaq and the S&P 500 climbing a little.. The NASDAQ Composite rose 6.52 points (0.32%) to 1,799.73, the Dow shed  27.81 points (-0.33%) to close at 8,359.49, and the S&P 500 took on 4.79 points (0.53%) to end at 905.84  Oil ended the day at $59.85 a barrel, while gold was unchanged at $923. The VIX declined 1.29 to 25.02.
    An investment advisory service that normally doesn't comment on the economy or the markets warned this afternoon that the economy is a lot weaker than it's cracked up to be, and that a major drop in the stock market may lie just ahead.
    In juxtaposition to that, the Institute for Economic Research' Index of Leading Indicators, with a sterling track record for chronicling recessions, is forecasting better days just ahead, with the economy bottoming this summer.
    Quien sabe?

    Michael Ashbaugh has weighed in with Tuesday's technical analysis: Michael Ashbaugh: S&P dodges bullet for now