Daily Investment Interpretations

July 27, 2011

2011-7-27: (Wednesday Night):  The indices closed lower again tonight, as the default deadline moves still closer: Debt gridlock slams stocks; Market Wrap: Playing the Waiting Game. The NASDAQ Composite fell today 2.84 points (0.1% ) to end the day at  2,839.96. The Dow subtracted 91.5 points (-0.73%) to close at 12,501.30; the S&P 500 gave way 5.49 points (-0.41%) to settle at 1,331.94 Oil closed down slightly at $99.15; gold climbed to 1,625. The VIX climbed 0.88 to 20.23.  
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.