Daily Investment Interpretations

July 1, 2011

2011-7-1: (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. The NASDAQ Composite was up 42.51 points (1.53%) at day's end to 2,816.03. The Dow jumped 168.43 points (1.36%) to close at 12,582.77; the S&P 500 gained 19.03 points (1.44%%) 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.