15Jul2016 Market Close: Markets Closed Mixed And Flat, WTI Crude Closed Higher, Analysts Skeptical Of Bull Rally Continuing Next Week, Some Calls On Take Profits Now
Written by Gary
US markets closed mixed. The DOW up 10 points, the Spooze closed down -0.09% and the Nasdaq up 0.7%. WTI crude remained steady at $46 and the rally that pushed the SP 500 to record highs every day this week ran out of steam shortly after the opening bell. Next week an onslaught of company earnings could help investors assess the impact of Britain's vote to exit the European Union.
Todays S&P 500 Chart
The S&P 500 (SPX) has returned 7.1% so far this year, which is remarkable considering all the panic when the index declined 10% early this year and all the worry over Brexit. Valuations are the highest they've been for this time of the year since 2003. But Mark Hulbert says the market's technical strength points to more good times ahead .
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