Daily Investment Interpretations

February 4, 2010

2010-2-4:  The markets fell down a flight of stairs today. The indices are penetrating resistance levels. The NASDAQ Composite plunged 65.48 points, (-3.11%) to close at 2,125.43, the Dow sagged 268.37 points (-2.61%) to close at 10,002.18, and the S&P 500 parted with 34.17 points (-3.11%) to close at 1,063.11. Oil fell sharply to $73.07 a barrel. Gold ended at $1,064. The VIX climbed 4.5 to 26.10.
   
Why did the markets plunge today? Here are a few reasons: Dollar up to 7-month high, Euro-zone whack-a-mole, and Dow holds tight to 10,000. Presumably, the dollar has risen because of worries about the safety of European sovereign debt. Bad news coming in Friday jobs report.
    Market futures are up slightly tonight.