Daily Investment Interpretations
February 1, 2011
market indices soared again today, with the Dow and the S&P 500
breaking through to new two-year highs.
NASDAQ Composite gained 51.11
to 2,751.19. The Dow advanced 148.23
to end at 12,040.16,
while the S&P 500 added 21.47
to close at: 1,307.59. Oil closed at $90.99 a
barrel as concerns about Mid-Eastern political unrest eased somewhat, while Gold ended at $1,343. The VIX dropped
The Dow and the S&P 500 have decisively penetrated the 12,000 and the 1.300 levels, respectively: Market uptrend resilient despite cross currents. The indices have left gaps in their rapid ascensions, insuring that on the next pullback, they will fill in their gaps. This means that there will be chances to buy in at lower market prices than those tonight. Of course, there are no safe predictions where the markets are concerned, but logically, we might expect to see the indices rise a bit further tomorrow, followed by a day or two of declines.
Irwin Kellner has written: U.S. economy looks ready for takeoff.
Market futures are slightly negative tonight.