Daily Market Analysis

Daily Market Analysis for 22 Jul 2011 Close

Market Timing Summary:

Market Timing Direction: LONG since Jul 21 Close.

 Direction  Note
Market Breadth Pattern  Bullish On July 21, we saw significant number of stocks considered accumulated (166 from range-bound stocks and 42 from up trending stocks). Coupled with the fact that just 2 days prior we saw some moderate buying and we have seen solid earnings reports, this accumulation might have some room to grow.

We have a bullish pattern triggered, “Sideways Breakout”. This happen whenever we saw significant accumulation during a sideways market without significant recent selling.

The $BPNYA has also crossed above its 10 day MA. This is another bullish sign from a market breadth perspective.

The mitigating factor going against this bullish view is the fact that there are two strong long term resistance levels at around 1345 and 1370.

Keep in mind that we are still in a Range-bound market state, i.e. neither in Strong nor Weak market state.

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 July 18, 2011.

Industry Rotation

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Earnings Cycle

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