The following (green highlights) is a chart and a brief excerpt from our Monday August 1st Keys To This Week report.
excerpted from Keys To This Week
The US Stock Market
August 1, 2011
Intermarket Analysis: Paris CAC-40 Index. NEAR TO INTERMEDIATE TERM BEARISH. Chart 1 displays a daily bar chart of the Paris CAC-40 Index during the past year and highlights the mid July breakdown from 5 months of sideways congestion, the late July retest of the 200-day moving average as overhead resistance (orange line, a major trend proxy), and last week’s decline to fresh lows. This series of events confirms a major bearish trend change in the index and targets an initial 10-% decline to 3300.
Asbury Research subscribers can view the entire report by logging to our Research Center and entering your Username and Password). It includes 10 charts and 32 bullet-pointed investment ideas pertaining to the US stock market and market sectors, US interest rates, and the US Dollar, and a summary on what they mean for the upcoming direction of the broader US economy for Q3/Q4 2011.
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.