Daily Market Analysis

Daily Market Analysis for 10 Jun 2011 Close

Market Timing Summary:

Market Timing Direction: SHORT

 Direction  Note
Market Breadth Pattern Bearish The weak bounce previous day was negated by rather heavy selling on Jun 10. 

Since May 3 top, we have seen three consecutive bearish “RangeboundSelling” patterns.

We have not seen very heavy panic selling which may signal over extended downside move and likely sharp reversal yet.

Thus, I continue to see greater likelihood and greater size of downside move than upside move.

Nevertheless, we are neither in a Strong market state nor in a Weak market state. 

Primary Market Breadth  Bearish Primary market breadth has turned bearish for the first time since September 2010!!
Monetary Conditions  Bullish Monetary base keeps being added into the system significantly. Similarly, short-term interest is still much lower than longer term interest rate. Thus, Interest Rate Pump factor continues to rise.

Note: Any change from previous day summary is highlighted in blue.

Click on the following links for information on Market Timing Analysis in general, guides on Market Breadth Pattern, Primary Market Breadth, and Monetary Conditions, and Track Record of the Market Timing tool.

Market Breadth Patterns 

Click on the Chart itself to see the bigger version.

 

Primary Market Breadth

Monetary Conditions

Note: The following charts are updated once every other week. The chart was last updated on June 10, 2011.

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