Gold closed moderately higher today, moving up to a new high for the oversold reaction from late December and breaking above resistance at the upper boundary of the downtrend from August. Technical indicators continue to strengthen on the daily chart and they are now bullish overall, strongly favoring a continuation of the reaction. With respect to cycle analysis, the two short-term...
Gold Moves Above Downtrend Resistance Gold closed moderately higher today, moving up to a new high for the oversold reaction from late December and breaking above resistance at the upper boundary of the downtrend from August. Technical indicators continue to strengthen on the daily chart and they are now bullish overall, strongly favoring a continuation of the reaction. With respec...
Today, the US Federal Reserve announced that it intends to hold the federal funds rate at "exceptionally low levels" until at least 2014. Information received since the Federal Open Market Committee met in December suggests that the economy has been expanding moderately, notwithstanding some slowing in global growth. While indicators point to some further improvement in overall labor market con...
Overextended Stock Market Rally Moves Up to New Short-term High The S&P 500 index closed moderately higher today, moving up to another new high for the uptrend from early October. Technical indicators remain moderately bullish overall on the daily chart, favoring a continuation of the rally. However, the advance from mid-December is extremely overextended and overdue for an overbought correct...
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 intermediate-term forecast and for long-term outlooks see the latest long-term forecast. Technical Analysis The index closed near unchanged again today, holding at recent highs of the uptrend from early October ab...
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