Daily Investment Interpretations
August 30, 2011
(Tuesday Night): The
bulls ripped and snorted again today: Dow's 2nd triple-digit day,
Composite advanced 82.26
points (3.32%) to
close at 2,562.11.
The Dow gained 254.71
at 11,539.25; the S&P 500 rose 33.28
to settle at 1,210.08. Oil rose to $87.52: Oil gains;
gold climbed a little to 1,791: Gold lower.
The VIX fell 3.2`
points to 32.28.
State of the Markets observes that Federal Open Market Committee Minutes Reveal Fed Looking at Policy Options, or as Marketwatch puts it: Fed weighs putter or wedge.
In the technical arena, State of the Markets has Technical Talk: Bad News, Choppy Action, while Marketwatch' Michael Ashbaugh says that there are Crosscurrents in technical picture.
Study: Stop Drinking the Kool-Aid and Manage Stock Market Risks
In the good news department, Rates Fall at Italian Bond Auction and Economic Update: S&P Case-Shiller Home Price Index Rises in June.
In the bad news arena, Consumer Confidence Index Plummets in August, but consumer confidence is a trailing indicator, and the August measure was taken at a time when the markets had tumbled.
In the meantime, Marketwatch is beating the "invest now" drum: McMillan: More buy signals now in place, Hulbert: Contrarians are now bullish, Arends has 10 reasons for optimism, and Marder: The clouds begin to part.
After a grim start, the markets perked up this afternoon on the release of the Fed minutes showing that corrective action is on the table: Minutes Turn Choppy Session Green.
Market futures are slightly lower tonight.