Dow, S&P rise, but Greek woes keep bears on prowl June 19, 2011
Posted by Marlowe Cassetti in Blogroll.trackback
The Dow and S&P 500 rose on Friday after France and Germany outlined an agreement to aid debt-burdened Greece, but analysts said a recent bearish trend may not be over.
The Dow managed to close just above 12,000, but the S&P 500 barely squeaked out a gain for the week after six straight weeks of losses. The uncertainty surrounding a resolution of the debt crisis kept investors wary of committing more cash to equities.
The Dow Jones industrial average .DJI rose 42.84 points, or 0.36 percent, to end at 12,004.36. The Standard & Poor’s 500 Index .SPX gained 3.86 points, or 0.30 percent, to 1,271.50. But the Nasdaq Composite Index .IXIC fell 7.22 points, or 0.28 percent, to 2,616.48. (commentary & photo courtesy of Reuters)
Not much to say. The RSI portfolio has been dropping most of this week. The good news is that cash reserves are building up waiting for future buying opportunities.
No new RSi buying recommendations after Friday’s market close. I hope you had a good weekend.
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