Archive for July 9th, 2010

Gold Attempts to Bottom

| July 9, 2010

Both the Gold Currency Index (GCI) and gold in US dollars have held at current levels for five sessions following the plunge last week. If price action subsequently heads back up toward recent all-time highs, a bullish scenario would become more likely. The failure of the recent sharp decline to engender additional downward momentum over […]

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The Latest Bounce in Stocks Proceeds as Expected

| July 9, 2010

The S&P 500 index closed moderately higher today, continuing the oversold reaction from early this week. However, it is important to note that this latest bounce has been accompanied by below average volume, just like the previous two reactions following steep declines. This lack of conviction during each oversold bounce is a warning sign that […]

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Short-term Forecast for July 9, 2010

| July 9, 2010

Stock Daily Chart Analyses The following daily chart analyses provide short-term forecasts for the stock indices that we monitor. For intermediate-term outlooks see the latest weekly review, and for long-term outlooks see the latest big picture update. The S&P 500 Index Synopsis: The S&P 500 index closed moderately higher today, reconfirming the short-term oversold reaction […]

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