Archive for July 16th, 2010

The Gold Currency Index Breaks Down

| July 16, 2010

The Gold Currency Index (GCI) had been holding in a narrow trading range following the sharp decline early this month, but today it broke well below congestion support in the 30.40 area, reconfirming the short-term downtrend. Technical indicators on the daily chart are moderately bearish overall, and it is likely that the GCI will move […]

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Selling Earnings Season… Again

| July 16, 2010

The stock market has corrected sharply following both earnings seasons this year, and it may be in the process of doing so again. Notice how the S&P 500 index dropped precipitously in late January and again in early May after the bulk of US corporations had reported their results. This is prototypical “selling the news” […]

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Short-term Forecast for July 16, 2010

| July 16, 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 Synopsis: The S&P 500 index closed sharply lower today, retreating from resistance at the upper […]

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