Daily Investment Interpretations
July 26, 2011
The indices closed lower again tonight, as the default deadline
moves still closer: Debt gridlock slams stocks;
Wrap: Playing the Waiting Game.
Composite fell today 2.84
points (0.1% ) to end the day at 2,839.96. The Dow
at 12,501.30; the S&P 500 gave way 5.49
to settle at 1,331.94 Oil closed down slightly at $99.15;
gold climbed to 1,625. The VIX climbed 0.88
The key issue remains the deadlock in Washington: The Plot Thickens As Boehner Struggles With Own Party and Boehner pulls Republican debt bill after CBO rating.
TopStock Portfolios had this opening analysis by David Moenning: If You Liked Monday, followed by Technical Talk: Can You Say Neutral?, Economic Update: Richmond Fed Index, Consumer Confidence Rises Unexpectedly in July, and Case-Shiller Home Price Index Rises in May. Normally, this good news would be prompting a market boost, but given the
Meanwhile, Michael Ashbaugh has published his weekly fortune cookie: Ashbaugh marks off bulls-bears battleground.
Market futures are up slightly tonight.
And this just in: A head and shoulders top may be forming.