Daily Investment Interpretations

April 20, 2011

2011-4-20 (Wednesday Night): The markets soared today on stellar earnings reports: U.S. stocks leap on Intel, home sales. The NASDAQ Composite closed up 57.54 points (2.1%) at 2,802.51. The Dow catapulted 186.79 points (1.52%) to close at 12,453.54, while the S&P 500 jumped 17.74 points (1.35%) to close at: 1,330.36. Oil rose to $112.22 (Crude futures break through $112 a barrel, Oil prices likely to keep rising until June), while Gold jumped to $1,507. The VIX fell 0.76 to  15.07.  
    Michael Ashbaugh warns that S&P 500 in caution zone: Ashbaugh
    From TopStock Portfolios: The Bulls May Be Back, But Here's Two Things To Noodle On.
    Last night, I wrote: " The key question is: will this rebound continue? Resistance levels lie at 1,310, 1,315, and 1,320 on the S&P 500. The S&P 500 has closed above 1,310 tonight, but it didn't surmount the other two hurdles today." Tonight, that question has been answered resoundingly. The indices broke through their resistance levels as though they weren't there. And market futures are up substantially tonight on the basis of excellent after-hours earnings reports.