Daily Investment Interpretations
January 21, 2011
(Friday Night): The
indices closed mixed today, with the Dow and the S&P indices up, and
the NASDAQ Composite down: Dow boosted by earnings, tech shares lag. The
NASDAQ Composite fell another 14.75
to 2,689.54. The Dow was up 49.04
while the S&P 500 split the difference by rising 3.09
to close at: 1,283.35. Oil closed at $89.10 a
barrel, and Gold ended at $1,342. The VIX was
to end at 18.47.
The S&P 500 is still below the price where I sold my timing-directed ETF's (MVV and TNA). I'll be watching closely on Monday to see whether or not to buy them back.
There isn't a lot of commentary discussing where the markets might be headed. I found a little news on various news sites: GE lifts Dow, S&P 500 but S&P's 7-week streak ends, and Bar set high as stocks face pullback. Some analysts are calling for further declines in the indices in order to work off their overbought states. TopStock Portfolios' David Moenning offered this overview this morning: What's It Mean? (Another good article on the TopStock Portfolios website is: Tepper: No Longer An "Everything Will Go Up" Market, But....