Archive for July 2nd, 2010

Likely Start of New Cyclical Downtrend Confirmed

| July 2, 2010

There were some economic data releases today, with the June employment report from the Bureau of Labor Statistics coming in slightly weaker than expected and factory orders slipping slightly more than expected, but the most significant development of the session was the confirmed breakdown of that massive head and shoulders top that has been forming […]

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Short-term Forecast for July 2, 2010

| July 2, 2010

Stock Chart Analysis Synopsis: The S&P 500 index closed moderately lower today, moving down to a new low for the downtrend from April. Technical Analysis: Technical indicators are moderately bearish as price action moves lower near the bottom of the Bollinger bands, money flow reacts off of recent lows in negative territory, MACD momentum moves […]

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