Daily Investment Interpretations
August 19, 2011
(Friday Night): The
markets closed down again today: Closing
Thoughts: What We're Looking For Now, Weekly
losing streak at four. The NASDAQ Composite lost
) to end at 2,341.84.
The Dow declined 172.93
to close at 10,817.65;
the S&P 500 sagged 17.12
to settle at 1,123.53. Oil rose slightly to $82.73: Oil
falls as global demand prospects weaken; gold leaped again to 1,855:
gains 6% in week, sets sights on $2,000, Gold
and VIX's interesting relationship. The VIX inched up 0.38
points to 43.05.
Tonight's article, Closing Thoughts: What We're Looking For Now, written by State of the Markets' Curtis Bergquist, offers a summary of where things stand:
"Summing up, my market tactics will key off of what I believe are the 2 most likely possibilities:
A third possibility is a break below last week's lows which leads to a
replay of the September/October 2008 waterfall plunge. While I do not believe
this case is likely to occur, it could. And thus we must all keep one eye on the
State of the Markets' David Moenning opened the day with Will It Be Different This Time?
This was followed by the bad news: Citi Cuts Forecasts for U.S. GDP and S&P Earnings , Germany's PPI (Producer Price Index) Much Hotter Than Expected, Spain Announces New Spending Cuts and Measure to Boost Economy, Europe Update: Finland Refuses to Compromise on Greece, and Fed Conspiracy Theory?
The only good news was Market Mover: Fed's Dudley Says Foreign Banks Not a Focus. This news release poured oil on troubled waters.
So far, the markets have remained above their August 9th lows (1101 on the S&P 500).
And that's about it for tonight.