Daily Investment Interpretations
July 6, 2009
falling earlier in the day, with the S&P
down as much as 10 points, the Dow
and the S&P 500
closed up a fraction of a percent. The
close at 8,324.87,
and the S&P
end the day at 898.72
barrel, while gold
Officially, investors are now questioning the health and timing of the recovery. My technical advisory is very cautious, but sees what's happening as a potential buying opportunity. Meanwhile, sentiment has cooled a little, but is far from a panic state. The markets are a little oversold, but not terribly so. Meanwhile, the S&P 500 moving average is still above its flattening 50-day moving average.
The S&P has resistance at 880.
We'll see what tomorrow brings.