Daily Investment Interpretations

February 23, 2010

2010-2-23:  The markets declined markedly today. The NASDAQ Composite fell a resounding 28.59 points, (-1.28%) to close at 2,213.44, the Dow backed off 100.97 points (-0.97%) to close at 10,282.41, and the S&P 500 closed down 13.41 points (-1.21%) to close at 1,094.60. Oil fell to $8.82 a barrel, closing at $80.05 a barrel. Gold dropped $10, ending the day at $1,103. The VIX rose 1.43 to 21.37.
   
The markets fell the way they did today because consumer sentiment unexpectedly plummeted today: Consumers recoil. Other bad news didn't help, either: King's ransom, 'Troubled bank' list grows, and Mixed view of home prices.
    The only good news lay in Michael Ashbaugh's regular Tuesday technical assessment: Small caps back bullish case, Ashbaugh says.
    My investment advisory service still considers this to be a buying opportunity.
    Stock market futures are off slightly tonight.