Daily Investment Interpretations

Friday, April 27, 2012

2012-4-27: (Friday Night): All three indices closed up yet again today: S&P ends back above 1,400; Stocks close out a strong week. The NASDAQ Composite exploded 18.58 points (0.61%) to end at 3,069.20. The Dow advanced 23.69 points (0.18%) to close at  13,228.31; the S&P 500 popped 3.38 points (0.24%) to settle at 1,403.36. Oil rose to 104.79:Oil rises near 4-week high; gold ended at 1663: Gold market takes big cues from the Fed. The VIX eased up 0.08 to 16.32.
    "Stocks close higher as better-than-expected results from Amazon and Ford fuel gains. Nasdaq also rallies 2.3% for the week, with gains stoked by strong quarterly earnings.
    "Crude climbs back near $105 a barrel, extending its winning run into a fourth straight day."
    The bottom line: The markets have pushed above their recent levels, but have resistance to overcome... e. g., 1420 on the S&P... before they can be said to have broken out of their trading ranges and ended this correction.
    Marketwatch says: 
    Michael Gayed says: Look for surge in China stocks.
    Long-term gold view still bullish
    Rex Nutting writes: Fear of inflation keeps Fed from doing its job  
    Mark Hulbert tells us What market must do to avoid sell signal.  
    Howard Gold warns that Dumb money flocks to emerging markets.  
Michael Ashbaugh observes that the S&P 500 stages lukewarm breakout.
    Lawrence McMillan noted on Wednesday that if the S&P 500 closed above 1400, it would constitute a bullish breakout: In focus: Are bulls winning by default? And that's precisely what happened today (and essentially, yesterday), with the S&P closing tonight at 1403.        
    Cody Willard tells us about Tracking the next Web bubble.  
    U.S. 10-year yields down a sixth-straight week.  

    State of the Markets articles include:   
    Technical Talk: Good-News/Bad-News Situation  "Today's technical picture is a classic case of good news/bad news situation. The good news is that the recent advance argues well for the idea that the corrective phase that began on 4/2 has... ... Read More "    
    The Whispering Returns  "Good Morning. As you may know, my Daily State of the Markets report is dedicated to identifying the drivers of the market action. The vast majority of the time, this is a fairly easy task as the reasons behind a move are usually pretty straightforward (well, eventually anyway). But then there are days like Thursday. You see there are times when it isn't so much about what happens in the stock market game, but rather how it happens that matters. For example, the "what" of yesterday's market was pretty simple. ... Read More "
    University of Michigan Sentiment Index Above Expectations       
    U.S. GDP Growth Below Expectations in First Quarter  
    Yields Continue to Rise at Italian Bond Auction 
    Spanish Officials Say Bailout Not Needed  
    Bank of Japan Increases QE Program  
    It's been another "up" week.
    I hope Fortune smiles upon you this weekend.