Archive for June 30th, 2011

Stock Market Rebound Approaches Downtrend Resistance

| June 30, 2011

The S&P 500 index moved sharply higher for a fourth straight session today, reconfirming the oversold reaction from mid-June and approaching resistance at the upper boundary of the downtrend from early May. The magnitude and duration of the short-term rebound has caused a change to our preferred cycle count and it is now likely that […]

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Gold Currency Index Moves Below Uptrend Support

| June 30, 2011

The Gold Currency Index (GCI) closed moderately lower today, moving slightly below support at the lower boundary of the uptrend from late January. Technical indicators are now bearish overall on the daily chart, supporting a continuation of the decline from last week. A subsequent close below current levels would confirm the break below uptrend support […]

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Short-term Forecast for June 30, 2011

| June 30, 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 higher again today, reconfirming the oversold reaction from mid-June […]

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