Bear Turns to Bull?
January 14, 2010 updated each market day
First-time claims for state unemployment benefits rose by the most in five weeks, and December US retail sales ticked down from November. But on scant volume the S&P 500 rose 0.24% today to a new interim high and a year-to-date gain of 3%. The index is 69.8% above the March 9, 2009 closing low, which is 26.6% below the peak in October 2007.
*and lets not forget the rigging of the 4th Quarter of earnings.
Does anyone remember what 2008 looked like as it headed to 14,000? And then dropped to 6700 a mere six months later? Huh? Anyone?