The market was basically flat this week, with no indication of where it wants to go next. I'm still looking for the S&P 500 to reach up for the July high.
The Euro topped 1.42 vs. the US dollar, an all time high, while Gold continued to rise.
Market update Sep 23, 2007
What a week! The Fed dropped interest rates by .50 points on Tuesday, and the DOW rocketed up 336 points the same day.
The US Dollar dropped to a 30+ year low, Gold shot up, and Oil closed over $82/bbl. The financials showed a nice recovery too. In spite of the huge move up in the DOW though, the volume hasn't been very convincing. This was also expiration week for options and futures.
What can we expect in the coming week? The indexes look like they want to re-test the July highs. S&P 500 Chart
30 year Bond yields started moving up also (long term rates going up.)
The US Dollar dropped to a 30+ year low, Gold shot up, and Oil closed over $82/bbl. The financials showed a nice recovery too. In spite of the huge move up in the DOW though, the volume hasn't been very convincing. This was also expiration week for options and futures.
What can we expect in the coming week? The indexes look like they want to re-test the July highs. S&P 500 Chart
30 year Bond yields started moving up also (long term rates going up.)
Market update -Sep 9, 2007
Labor day holiday this week. The DOW dropped 249 points on Friday! Bad payroll number surprises WallStreet.
Market update -Sep 2, 2007
More choppy markets. Looks like the S&P wants to go back up to 1500 again, in spite of many people thinking the opposite! China market breakout also.
Subscribe to:
Posts (Atom)
Posts
