Market Summary

In contrast to the 12 month performance of both oil and gold, this last week showed all the other indexes to be gainers while oil and gold were losers. And if you look at the 4 week performance data all the indexes are in the green except gold. As I mentioned last time I am seeing commodity prices come down from all time highs. There was a bubble in commodities that has burst. This is what you would expect in the face of a recession. During a recession people are out of work, consumer spending slows, and prices fall. Also, the value of the dollar has been rising which should push oil and gold prices lower. I will discuss this in greater detail in coming days. Click on the table to enlarge.
Legend: $COMPX = Nasdaq, $DJXOX = 1/10 DJIA, $OIXOX = Oil Sector Index, $RUTOX = Russell 2000 Small Cap Index, $SPXOX = S&P500, EFA = International iShares ETF, GLD = 1/10 price of gold.