Archive for August 24th, 2010

Stocks Continue to Search for Latest Short-term Low

| August 24, 2010

Last week, we noted that the window during which the next short-term cycle low (STCL) in stocks is likely to occur was approaching and suggested that a “sell the rumor, buy the news” rally accompanying either the existing home sales report or the GDP revision report this week could potentially provide the necessary catalyst to […]

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Existing Home Sales Plunged in July

| August 24, 2010

Last week, we noted that regional data suggested the July existing home sales report from the National Association of Realtors would very likely be much worse than expected. It was. Existing home sales decreased 27.2% to 3.82 million in July from a downwardly revised 5.26 million in June. As shown on the following graph from […]

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Short-term Forecast for August 24, 2010

| August 24, 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 sharply lower today, moving down to a new low for the short-term […]

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