Archive for September 17th, 2010

Federal Reserve Survey Data Continue to Signal Weakness

| September 17, 2010

The Federal Reserve manufacturing survey composite indices tracked by Calculated Risk suggest that the national PMI number from the ISM will likely move down toward the 50 level during the next few months. The PMI August reading did not decline as indicated by the comparable survey data last month, creating a slight negative divergence between […]

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Consumer Sentiment Unexpectedly Declines in September

| September 17, 2010

The University of Michigan consumer sentiment index decreased to 66.6 in September from 68.9 in August, moving down to the lowest level of the year. Consensus expectations were for an increase to 70. The following graph from Calculated Risk displays the recent sharp decline from the highs earlier this year. This deterioration in sentiment over […]

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Stocks Continue to Struggle at Trading Range Resistance

| September 17, 2010

The S&P 500 index closed near unchanged today, continuing its third test of congestion resistance at the top of the recent trading range between 1,050 and 1,130. The latest short-term rally from early September has been accompanied by low volume once again, and today was the first session with above average volume since the beginning […]

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Short-term Forecast for September 17, 2010

| September 17, 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 again today, holding at recent highs of the short-term uptrend […]

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