Archive for August, 2010

Gold Approaches All-time High

| August 31, 2010

Gold broke above congestion resistance in the $1,240 area today and the long-term uptrend is now approaching the all-time high from June near $1,256. Two weeks ago, we noted the development of a bullish consolidation formation that suggested another long-term breakout had become more likely. Since then, the formation has continued to strengthen, increasing the […]

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Case-Shiller Home Price Indices Rise Slightly in June

| August 31, 2010

The Case-Shiller data for June were reported today, showing an increase of 0.3% in the Composite 20 index. The bounce off of the 2009 low, driven primarily by government stimuli, remains tepid and is likely preparing to reverse. “Data through June 2010, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the […]

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Short-term Forecast for August 31, 2010

| August 31, 2010

Stock Daily Chart Analyses The following daily chart analyses provide short-term forecasts for the stock markets that we monitor. For intermediate-term outlooks see the latest weekly review, and for long-term outlooks see the big picture update. The S&P 500 Index The index closed near unchanged today, holding at recent lows of the short-term downtrend from […]

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Dallas Federal Reserve Reports Relatively Weak Manufacturing Data for August

| August 30, 2010

The Dallas Federal Reserve reported the results of its manufacturing survey for August, with its production index indicating a third straight month of negligible growth. “Texas factory activity was unchanged in August, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, came in […]

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Short-term Forecast for August 30, 2010

| August 30, 2010

Stock Daily Chart Analyses The following daily chart analyses provide short-term forecasts for the stock markets that we monitor. For intermediate-term outlooks see the latest weekly review, and for long-term outlooks see the big picture update. The S&P 500 Index The index closed sharply lower today, returning to recent lows of the short-term downtrend from […]

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A Stock Market on the Edge

| August 28, 2010

Our computer models have been forecasting the likely development of a long-term top in the stock market since early this year. The potential reversal formation that began to take shape in late 2009 exhibits many compelling bearish characteristics and it is now on the verge of a meaningful breakdown. The S&P 500 index closed slightly […]

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Intermediate-term Forecast for August 28, 2010

| August 28, 2010

Stock Weekly Chart Analyses The following weekly chart analyses provide intermediate-term forecasts for the stock markets that we monitor. For short-term outlooks see the latest short-term forecast and for long-term outlooks see the latest long-term forecast. The S&P 500 Index The index closed slightly lower this week, continuing a test of critical congestion support of […]

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Stocks Rally on Downward Revision to Second Quarter GDP

| August 27, 2010

The “sell the rumor, buy the news” rally that we suspected would provide the catalyst for the formation of the latest short-term cycle low (STCL) in the S&P 500 index developed as anticipated today, and it is now very likely that the expected low occurred yesterday. Stocks will need to exhibit additional strength over the […]

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Short-term Forecast for August 27, 2010

| August 27, 2010

Stock Daily Chart Analyses The following daily chart analyses provide short-term forecasts for the stock markets that we monitor. For intermediate-term outlooks see the latest weekly review, and for long-term outlooks see the big picture update. The S&P 500 Index The index closed sharply higher today, reacting off of recent lows of the short-term downtrend […]

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Potential Dow Theory Sell Signal

| August 26, 2010

In July, we analyzed the development of an unconfirmed Dow Theory sell signal that accompanied the violent correction following the long-term peak in late April. In general, Dow Theory is concerned primarily with values and market behavior. It provides a useful framework for analyzing trends and forecasting likely developments moving forward. There is also something […]

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