Saturday, April 4, 2026 
Market Rap 11 September 2009
A generally quiet session with some action, but not much. The S&P closed about flat at -1.41 or -.14%.
Overall, something seems not right with the market. Whatever that is may pass or it may lead to further volatility. As of now, there doesn’t seem to be an argument in town that can stop this thing. To that end, the S&P could potentially soar from here. All things are possible.
If the S&P does continue it’s ferocious march, it is VERY tough to know what to buy up here. Most of the breakouts I am seeing are concentrated in the stocks under $5 bin–the junk.
Gold seems to be on everyone’s radar. This is good. In a bull movement, it is best to have lots and lots of players interested in a market, betting on it as the next big thing. Good bull markets are born of enthusiastic participation. Whether the next 10% move in gold is to be up or down remains to be seen. Stay tuned. Spot gold closed the week at a high not seen since the week of March 17,2008 for a $1,004.86.
Treasuries were up slightly on the week. Treasury rates may find support here, but for my money, they must eventually head lower. That said, next week’s move in anyone’s call.
10 Year Rates
[...] time is different we will know very soon–perhaps in the next couple of trading days. In my September 12th Rap, I showed a chart of interest rates. The level I highlighted was broken [...]
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