Daily Investment Interpretations
September 10, 2009
The markets continued to climb again today, with all three indices
closing above their recent highs. The
NASDAQ Composite increased
to end at 2,084.02,
the Dow gained 80.26
finish at 9,627.48
and the S&P 500 added
to end at 1,044.14.
Oil advanced to
a barrel, while gold was
unchanged at $997.
The VIX fell 0.77
Jobless claims came in a little better than expected today.
Yesterday's comments (below) are still relevant.
"My technical advisory service has re-visited the theme that we're in a secular bear market which may be expected to last for several more years, and that what we can expect in the interim are what it terms "mini-bull" markets (what I've termed "cyclical" bull and bear markets), with a downward long-term bias. It is looking for a move over the next year-or-less to 1,200-to-1,300 on the S&P 500. The service also supports that idea that there are emerging markets that are not mired in secular bear markets, and that these emerging markets (the BRIC countries) offer a chance at greater profits than the U. S. markets."