Archive for September, 2010

Stocks Hold at Recent Highs after Early Breakout Attempt Fails

Stocks Hold at Recent Highs after Early Breakout Attempt Fails

| September 30, 2010

The S&P 500 index surged higher at the open after the Chicago PMI reading for September came in better than expected, increasing to 60.4 from 56.7 in August. However, a wave of strong selling pressure quickly erased the early gains, continuing the distribution process that has been in progress since the index began testing the [...]

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Short-term Forecast for September 30, 2010

Short-term Forecast for September 30, 2010

| September 30, 2010

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Stocks Continue to Test Key Resistance Level

Stocks Continue to Test Key Resistance Level

| September 29, 2010

The S&P 500 index has been attempting to break above resistance near the January high of 1,150 for the past four sessions. As you can see on the weekly chart below, a break well above this level would clear the way for a possible return to the April high near 1,215. As expected, the 1,150 [...]

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Short-term Forecast for September 29, 2010

Short-term Forecast for September 29, 2010

| September 29, 2010

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Latest Richmond Federal Reserve Survey Suggests Weakness in Manufacturing

Latest Richmond Federal Reserve Survey Suggests Weakness in Manufacturing

| September 28, 2010

The Richmond Federal Reserve reported its survey data for September, indicating that the slowdown in the manufacturing sector is continuing, although future expectations showed substantial improvement. “Manufacturing activity in the central Atlantic region pulled back in September after expanding during the previous seven months, according to the Richmond Fed’s latest survey. The index of overall [...]

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Case-Shiller Indices Hold Near Unchanged in July

Case-Shiller Indices Hold Near Unchanged in July

| September 28, 2010

The Case-Shiller home price index data for July were released today, exhibiting essentially no change as shown on the following graph from Calculated Risk. The tepid bounce in residential real estate valuations off of the 2009 low, driven primarily by government stimuli in the form of tax credits, is very likely in the process of [...]

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Short-term Forecast for September 28, 2010

Short-term Forecast for September 28, 2010

| September 28, 2010

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Baltic Dry Index Update

Baltic Dry Index Update

| September 27, 2010

Recently, we noted that the uptrend in the Baltic Dry Index (BDI) from July had begun to exhibit signs of another reversal, and the developing downtrend moved to another new low last week. The move below uptrend support in June was a meaningful breakdown and a return to recent lows would be another signal that [...]

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Third Quarter Window Dressing is Underway

Third Quarter Window Dressing is Underway

| September 27, 2010

The average fund manager is focused on two things: outperforming a given sector benchmark and outperforming his or her competitors. When quarterly statements are sent out to clients, fund managers want to insure that their performance over the past three months has been good enough to keep their investors happy, so during the last couple [...]

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Short-term Forecast for September 27, 2010

Short-term Forecast for September 27, 2010

| September 27, 2010

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