Daily Investment Interpretations

June 27, 2011

2011-6-27 (Monday Night): The markets rose today about as much as they fell on Friday: Dow retakes 12,000 level, Street optimistic on Greece. The NASDAQ Composite was up 33.86 points (1.33%) at the end of the day to 2,688.28. The Dow jumped 108.98 points (0.91%) to close at 12,043.56; the S&P 500 gained 11.65 points (0.92%) to end at 1,280.10. Oil slipped to $90.79: Oil slides to 4-month low; Gold declined to $1,498: Gold falls to 5-week low below $1,500. The VIX fell 0.54 to 20.56.
    Bad press is killing the recovery! 
    Peter Brimelow writes: Stocks suffering, but crash fears recede  
    Mark Hulbert notes that S&P 500 passes third moving average test, but is it a fake out? Dennis Slothower suggests that the refusal of the S&P 500 to drop below its 200-day moving average three times in a row is a classical technical bullish signal, and that it may encourage traders to jump aboard, only to take them down in July. On the other hand, he notes that the S&P 500 must close below its 200-day moving average in order to signal the start of a bear market.
    Market futures are up about 0.1% tonight.