Archive for September 3rd, 2010

Stock Market Rallies Continue to Lack Conviction

| September 3, 2010

The S&P 500 index is now up more than 5% following the latest cycle low on August 31, but the rally has been accompanied by below average volume once again. Every oversold reaction that has developed since the cyclical uptrend from early 2009 peaked in late April has occurred on relatively low volume, indicating a […]

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ISM Non-Manufacturing Index Unexpectedly Declines in August

| September 3, 2010

The Institute for Supply Management reported that their non-manufacturing index fell to 51.5% in August from 54.3% in July, whereas consensus expectations were for a smaller decrease to 53.0%. The employment index dropped to 48.2%, indicating contraction. “The report was issued today by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Managementâ„¢ Non-Manufacturing […]

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Short-term Forecast for September 3, 2010

| September 3, 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, reconfirming the short-term reaction from earlier this week and […]

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