Monthly Archives: August 2010

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 →

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 →

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 →

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 →

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 →

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 →

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 →

SHORT TERM: early rally fades, DOW -39 Overnight the Asian markets were mostly lower. Europe opened higher and closed +0.45%. US index futures were higher overnight and the market opened higher at SPX 1075. It has closed at SPX 1072 on … Continue reading →

REVIEW The pullback that started about two weeks ago from the uptrend high at SPX 1129, made a low on monday, rallied to SPX 1100 midweek, and then made a lower low on friday. The net result for the week, however, … Continue reading →

SHORT TERM: pullback continues on Ops-Ex friday, DOW -58 Overnight all the Asian markets were lower. Europe opened higher but closed -0.70%. US index futures were lower overnight, and the market gapped down at the open. Within the first few … Continue reading →