Daily Investment Interpretations
July 1, 2011
(Friday Night): The
markets have gone wild again today, for a fifth "up" day in a
row: Week capped by fireworks,
ISM manufacturing gauge's rise is a surprise.
Composite was up 42.51
points (1.53%) at
day's end to 2,816.03. The Dow jumped
168.43 points (1.36%)
at 12,582.77; the S&P 500 gained 19.03
to end at 1,339.67. Oil climbed back up to $94.75 Oil snaps three-day rise, settles 0.5% lower; Gold
rose a little to $1,487: Gold falls to six-week low. The VIX
was unchanged at 15.87.
TopStock Portfolios expects the markets to sell off after they reopen on Tuesday: Technical Talk: Running With The Bulls: "That being said, stocks can be expected to hiccup at least a little bit early next week, as we have gained over 5% in just 6 trading days." This may afford another chance to "buy in".
The next resistance zone comes at the 1,345-1,350 level.
U.S. to exhaust borrowing power Aug. 2
There's really a lot of bad news waiting in the wings for investor attention.