Archive for August 5th, 2010

Unemployment Claims Increase to Highest Level Since April

| August 5, 2010

The Department of Labor reported that initial unemployment claims increased to 479,000 last week from 460,000 the week before, moving up to the highest level since April. As shown on the following graph from Calculated Risk, the 4-week moving average continues to hold at elevated levels near 460,000. It remains to be seen when this […]

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Stock Market Approaches Short-term Inflection Point

| August 5, 2010

We remain on wedge watch as the low volume rally in stocks from early July approaches a potentially important short-term inflection point. The bearish rising wedge that we have been monitoring during the past two weeks has narrowed to a range of 1,115 to 1,135 on the S&P 500 index and a move out of […]

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Short-term Forecast for August 5, 2010

| August 5, 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 today, holding near recent highs of the bearish rising wedge […]

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