Daily Investment Interpretations
March 26, 2010
The markets rose smartly today; then finished flat to down. The NASDAQ Composite
to close at 2,395.13 , the Dow annexed 9.15
close at 10,850.36, and
the S&P 500, up
minutely at 0.86
points (0.07%), closed at 1,166.59. Oil
declined slightly to $80.13 a barrel.
Gold rose slightly to $1,104.
The VIX fell 0.63
to close at 17.77.
Mark Hulbert notes that Thursday was a "key reversal day" that may be signaling a top to the current market mini-cycle (The day the market topped), and of course, possibly, to the current cyclical bull market (although I personally doubt that). Sentiment has gotten entirely too bullish. If it turns around sharply, then perhaps the bull market can resume; otherwise, it's out to pasture for the bull. However, my investment advisory, while acknowledging the same concerns as those Mark Hulbert has expressed, concludes at least for the moment, intermediate-term momentum is still intact, and could carry equities higher before this wave exhausts itself.
Rising interest rates are said to be in the cards: When Bill Gross is bond-bearish, listen.
Another article, Banks as co-conspirators, suggests that some new chicanery may surface in conjunction with our suite of banking scandals..
Two other articles: Corporate profits expand most in 25 years, and Eight lobbyists per lawmaker in health reform, tell their stories with their titles.