Daily Investment Interpretations
April 5, 2011
(Tuesday Night): For the
second day in a row, the markets ended about where they started as they
challenge their pre-correction highs. The NASDAQ
Composite rose 2.00
to 2,791. The Dow slipped 6.13
close at 12,363.90, while the S&P 500 lost a trivial 0.24
to close at: 1,332.24. Oil said "sayonara" at $108.00
a barrel, while Gold rose to $1,455. The VIX fell 0.25
points to 17.25.
TopStock Portfolios expects the markets to fall back slightly, with the S&P 500 filling in a gap at 1,320 (about 12 points below where it closed tonight). However, they aren't expecting a meltdown or a double-dip recession: Technical Talk- Same Song, Different Day. They also note that 1st Quarter GDP Forecasts Cut At Major Investment Firms, in part because of higher crude oil prices. Mark Hulbert cites Sam Eisenstadt, Value Line's former research director, who has an excellent track record predicting what the economy and the stock markets will do. He's calling for a September 30 S&P 500 reading of 1,450, or about 9% above where the S&P stands today: A bullish six-month forecast.
Market futures are up slightly tonight.
2011-4-5 (Tuesday Morning): I'm sorry to be half a day late in posting this. Amber fell asleep around 5 p. m. last night, and woke up hungry and energetic at 10 p. m. It was after midnight before we got her asleep again, and could fall into bed.
The markets are retesting their resistance levels again this morning.