Archive for June 20th, 2011

Confirmed Short-term Signal: Stock Market Cycle Analysis

| June 20, 2011

We are 18 trading days into the cycle following the short-term cycle low (STCL) on May 24. Today”s advance formed a bullish engulf pattern on the daily chart, generating a cycle low signal that suggests the beta low (BL) likely formed on June 16. Only a move below the stop level at 1,265 tomorrow would […]

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Chinese Stocks Begin Test of Important Support Level

| June 20, 2011

In early May, our analysis identified the development of a symmetrical triangle formation on the weekly chart of the Chinese Shanghai composite and suggested that a close below the lower boundary of that technical pattern would forecast a quick move down to congestion support in the 2,600 area. As expected, the symmetrical triangle breakdown in […]

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Cycle Low Signal Generated for Stock Market

| June 20, 2011

The S&P 500 index closed moderately higher today, reacting further off of recent lows of the violent decline from early May. Today’s advance resulted in the formation of a bullish engulf pattern on the daily chart that confirmed the cycle low setup that occurred on Friday, thereby generating a cycle low signal. We have been […]

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Short-term Forecast for June 20, 2011

| June 20, 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 moderately higher again today, reacting further off of recent lows […]

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