Daily Investment Interpretations
April 6, 2010
markets ended the day little changed: Dow dips, S&P 500 gains,
Retail rallies on best monthly sales in 16 years.
The NASDAQ Composite rose 7.28
to close at 2,436.81, the Dow slipped down 3.56
close at 10,969.99, within 30 points of 12,000, and
the S&P 500 slipped
closing at 1,189.44. Oil jumped to $86.74 a barrel,
while Gold rose to $1,132.
The VIX dropped 0.79
to close at 16.23.
My investment advisory service observes that the markets are extremely overbought on an intermediate-term basis, but their still positive until they turn negative. Looking at the charts, they appeared to be forming a top last week, but then they pushed through to a new round of highs. At the same time, if the S&P 500 reaches 1,200, it will have hit the upper trend line that has been topping the dips for the past year. If interest rates on 10-year Treasuries rise much above 4%, that could also adversely impact equity prices.
David Weidner writes: Bailed-out banks feast on bankrupt customers.
Michael Ashbaugh writes: S&P 500 lifts within view of major resistance.