Monthly Archives: August 2010

tuesday update

SHORT TERM: OEW 1058 pivot remains resistance, DOW +5 Overnight all the Asian markets were lower. Europe opened lower but closed +0.35%. US index futures were lower overnight and at 9:00 Case-Shiller housing prices were reported positive: +4.2 % v +4.6%. The … Continue reading

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monday update

SHORT TERM: no upside follow through, DOW -141 Overnight the Asian markets were all higher. Europe opened higher but closed -0.65%. US index futures were initially higher overnight and then turned lower. At 8:30 Personal income was reported higher: +0.2% v … Continue reading

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weekend update

REVIEW The market pushed the OEW uptrend scenario to its absolute downside limit this week as the SPX traded down to the OEW 1040 pivot twice. It was make or break time from wednesday to friday, and so far the … Continue reading

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friday update

SHORT TERM: Bernanke’s speech rallies market, DOW +165 Overnight the Asian markets were mixed. Europe opened lower but closed +0.75%. US index futures were higher overnight, and at 8:30 the first revision of Q2 GDP was lower but within expectations: … Continue reading

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thursday update

SHORT TERM: early morning rally fades, DOW -74 Overnight the Asian markets were mostly higher. Europe opened higher and closed +0.55%. US index futures were higher overnight as well, and at 8:30 the weekly Jobless claims improved: 473K v 500K. … Continue reading

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wednesday update

SHORT TERM: pullback makes new low market rebounds, DOW +20 Overnight the Asian markets were all lower. Europe opened lower and closed -0.65%. US index futures were higher, then lower overnight. At 8:30 Durable goods orders were reported higher, but … Continue reading

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tuesday update

SHORT TERM: gap down opening takes market lower, DOW -134 Overnight the Asian markets were mostly lower. Europe opened lower and closed -1.40%. US index futures were lower overnight and the market gapped down at the open to SPX 1059. … Continue reading

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