Daily Investment Interpretations
April 14, 2010
markets "broke out" higher today (though not above its
intermediate-term trend line) in the face of more economic good news: Bernanke paints picture,
Heider: We're in the middle of 'V'
recovery (audio), and Inflation's at a standstill in March.
The NASDAQ Composite added 38.87
to close at 2,504.86, the Dow sidled up 103.69
to 11,123.11, and
the S&P 500 added
a meager 13.35
to close at 1,210.65. Oil moved up tot $85.96 a barrel,
while Gold stayed put at $1,156.
The VIX moved down 0.41
to close at 15.79.
Hearty earnings helped keep the markets' mini-rallies in gear: Bulls keep rally alive with 5. Mark Hulbert warns us that The insiders pick up their selling.
The Dow would have to reach something like 11,400 to bump up against its intermediate-term (since March, 2009) trend line, and the S&P 500 would have to clear something like 1,240 to assault its trend line, or about 2½ % above where they are now to reach the upper boundaries of their channels.
The Nasdaq Composite is probably already at its upper trend line..