Stocks Update - 8/28/09

The S&P500 made a slight new high for the week and the year after the open this morning and continues to act stronger then expected. Wave structure is looking more bullish but cycles are becoming more bearish. Best guess is that the wave structure will win out until mid September when the next major time cycle is due.

Stocks Update - 8/23/09

Stocks moved up this week into Friday as forecast after the big Monday selloff. However the move was rather strong and went thru resistance to close at a new high for the year. This casts some doubt on the bearish outlook given previously. Monday is a key day. Most likely, stocks will go slightly higher Monday which may be the high for the week. There is resistance at 1032 and 1042 on the S&P 500. If stocks are strong up on Monday, that may change the outlook to bullish with a possible high at the next major time cycle due in mid September.