Archive for October 1st, 2010

Gold Closes at New All-time High While the GCI Continues to Lag

| October 1, 2010

Gold closed at another all-time daily and weekly high in US dollar terms today, reconfirming the long-term uptrend and approaching our initial short-term target of $1,330 following the breakout three weeks ago. Technical indicators are moderately bullish overall on the daily chart, supporting a continuation of the rally. However, the negative divergence between our Gold […]

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September ISM PMI Declines as Expected

| October 1, 2010

The Institute for Supply Management (ISM) reported that its national PMI decreased to 54.4 in September from 56.3 in August, in line with consensus expectations. “While the headline number shows relative strength this month as the PMI reading of 54.4 percent is still quite positive, the overall picture is less encouraging. The growth of new […]

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Short-term Forecast for October 1, 2010

| October 1, 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 moderately higher today, holding near recent highs of the rally from early […]

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