April 11, 2011
Good morning. The market was slow and virtually unchanged last week, with the SPY closing down a scant .28 at 132.86. The VIX was up slightly (.48) to close at a still relatively low 17.39. There was a little more movement in interest rates, with the 30-year bond rate up.15% to close at 4.63%.
May 11, 2009
Good morning. It was yet another solid week for the market, especially big caps, last week. The SPY had a very strong move from 97.89 to 92.98, or 5.8% (and now positive on the year), and the Industrials were up 4.4%, from 8,212 to 8,575. The QQQQ’s, however, were actually down slightly on the week, from 34.37 to 34.23. To some extent the rally was concentrated in oils and financials, and the de-coupling with the QQQQ’s may signal that some caution should be considered after the rapid run-up. The VIX continues to show an increased comfort in the market, as it was down over 10% on the week, from 35.29 to 32.04.