Archive for June 1st, 2011

ISM Manufacturing Index Declines Sharply in May

| June 1, 2011

The Institute for Supply Management reported that its manufacturing index declined sharply to 53.5% in May from 60.4% in April, aligning closely with regional Federal Reserve survey data. “The PMI registered 53.5 percent and indicates expansion in the manufacturing sector for the 22nd consecutive month. This month’s index, however, registered 6.9 percentage points below the […]

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Stocks Plunge on Weaker than Expected Economic Data

| June 1, 2011

The S&P 500 index closed sharply lower today in response to manufacturing and employment data that were well below consensus expectations, continuing the distribution pattern that has been forming since the high in February. It remains to be seen if the cyclical bull market is forming a top or simply consolidating before continuing higher. However, […]

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Short-term Forecast for June 1, 2011

| June 1, 2011

S&P 500 Index Daily Chart Analyses The following technical and cycle analyses provide short-term forecasts for the S&P 500 index. For intermediate-term outlooks see the latest weekly review, and for long-term outlooks see the latest big picture update. Technical Analysis The S&P 500 index closed sharply lower today, returning to recent short-term lows and beginning […]

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