Daily Investment Interpretations
July 21, 2011
The indices powered higher again today. The NASDAQ
Composite rose today 23.03
points (0.82% )
(as much as it fell yesterday) to end the day at 2,837.26. The Dow
rocketed 148.57 points (1.18%)
at 12,720.48; the S&P 500 adjusted upward 17.68
to settle at 1,343.52. Oil closed up a little at $99.42;
gold shifted slightly to 1,590. The VIX fell a tidy 1.36
points to 17.73.
TopStock Portfolios had this opening analysis by David Moenning: Time To Make An Adjustment?, followed by Technical Talk: Not Out of the Woods Yet, and Market Wrap: Sentiment Improving. Among the good news today was U.S. Leading Economic Index (LEI) Up +0.3% in June, Philly Fed Index Rebounds In July, and Bloomberg Consumer Comfort Index Gains Ground. Oh, and then there's this Sneak Peek of Euro-zone Bailout Plan Draft.
Across tha poond, there's Greece gets another break as 30 global firms sign up for Greek bond swap. Meanwhile, IMF: Fix Europe crisis or risk global spillover.
One investment advisor argues that The S&P 500 is headed for a breakout.
Mark Hulbert points out the Transportsí weakness as a leading indicator. The Dow Transports, which suggested a continuing bull market two weeks ago, have now fallen back without having been confirmed by the Dow Industrials, typically calling for a slowdown in the economy toward the end of the year.
Market futures are slightly positive tonight.