Archive for June 24th, 2011
Stock Market Struggles to Rebound
The S&P 500 index closed sharply lower today, moving down toward recent lows of the violent decline from early May near critical congestion support in the 1,260 area. Since the beta low (BL) of the current short-term cycle formed on June 16, the index has tracked the bearish scenario that we outlined earlier this month. [...]
Short-term Forecast for June 24, 2011
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European Bond and CDS Spreads Continue to Climb
Data released by the Atlanta Federal Reserve show that European bond and CDS spreads continue to trend higher. Since the April FOMC meeting, the 10-year Greece-to-German bond spread has widened by nearly 400 basis points (bps) through June 22. The spreads for Ireland and Portugal have soared by 157 bps and 199 bps, respectively, over [...]
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