Daily Investment Interpretations
May 26, 2011
(Thursday Night): The markets
rose again on the third day:.Stocks
shake off losses The NASDAQ Composite rose 21.54
to close at 2,782.92. The Dow gained only 8.1
to close at 12,402.76,
while the S&P 500 posted a gain of 5.22
to close at 1,325.69. Oil retreated to $100.64; Gold
ended at $1,526. The VIX fell another 0.98
The indices have long hills to climb before they hit resistance levels at their previous highs. The general consensus is that they won't make it before they fall down again ("Sell in May and go away.")
Goldman Sachs revised their year-end forecast for a year-end S&P 500 reading of 1500 downward to 1450 today: Additional Input On Goldman's Downgrade of S&P Target.
Mark Hulbert writes: Bet on short-term strength.
Since Monday is a holiday, tomorrow will be the last trading day of the month.
Beware of experts bearing predictions
Veteran Allmon sees no crash ... just yet
Market futures are up tonight.