Daily Market Analysis

Daily Market Analysis for 07 Jul 2011 Close

Market Timing Summary:

Market Timing Direction: LONG

 Direction  Note
Market Breadth Pattern  Bullish We saw several consecutive up moves in SPX. The primary market breadth indicator has turned bullish. 

Currently SPX has approached key Resistance level at 1,370. We shall observe how price acts in the next few days to see whether the recent up leg has a lot more room to grow.

The latest pattern we saw was a bullish “1 Bar Reversal” pattern which anticipates trend reversal. 

Nevertheless, my market state monitor shows neither Strong nor Weak market. Thus we might expect light range-bound movement like what we saw from May 3 top up to now. This time, we expect an up movement to the top of the range, unless significant breadth on either side appears.

Primary Market Breadth  Bullish The primary market breadth has now confirmed the up trend reversal.
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 

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Primary Market Breadth

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Monetary Conditions

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

Industry Rotation

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Earnings Cycle

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