Daily Investment Interpretations

February 1, 2010

2010-2-1:  The markets, strongly oversold on a short-term basis, have rebounded today. The NASDAQ Composite rose 23.85 points, (1.11%) to close at 2,171.20, the Dow gained 118.2 points (1.17%) to close at 10,185.53, and the S&P 500 added 15.32 points (1.43%) to close up at 1,089.19. Oil jumped up to $74.95 a barrel. Gold ended at $1,105. The VIX dropped 2.03 to 22.59.
   
The shape of the market plots, below, suggest that at least a few days of recovery are in the offing, and this could be the beginning of another rise from a dip. However, the indices are well below their 50-day moving averages, and it was time to sell
   
I won't get a scheduled update from my investment advisory services until just before the market opens tomorrow.
    Low follows stimulus high in China   
    Valuations point to more correction