Daily Investment Interpretations
July 20, 2009
markets climbed today to challenge their resistance levels, with
huge buying at the close. The NASDAQ
Composite gained 22.68
the Dow expanded 104.21
close at 8,848.15,
and the S&P
500 rose 10.75
to end at 951.13
Oil ended the day up
a barrel, while gold
remained essentially unchanged at 24.40.
Today's rise was on decent volume. The VIX actually rose minutely, which is a good sign from a contrarian perspective. We'll soon see whether the averages break out of their recent trading ranges. The Chinese indices are looking good, with their 200-day moving averages beginning to turn up.