Monday, September 23, 2013

Monday Morning Chartology---9/23/13

The Morning Call

9/23/13

The Market
           
    Technical
           
      Monday Morning Chartology   

            The S&P remains solidly within its short and intermediate term uptrend.  The wiggly red line is the 50 moving average.



            GLD pattern shows a lot of volatility and indecisiveness on the part of investors.  It is too confusing to do anything but remain on the sidelines.



            The long Treasury is in a short term trading range and an intermediate term downtrend.  The wiggly red line is the 50 day moving average.  Note that it has tried to break above that resistance twice and failed.



            The VIX remains within a year long trading range---no hint of direction from this indicator.  



            The history of Market performance in the week following September option expiration (short):

            Update on ‘the best stock market indicator ever’:

    Fundamental
    
            The latest from Marc Faber (medium):
           
      News on Stocks in Our Portfolios
  
Economics

   This Week’s Data

            The August Chicago Fed National Activity Index came in at +0.14 versus July’s reading of -0.15.

   Other

            Overseas, Merkel wins the election, the Chinese flash PMI hit a six month high, the EU composite PMI rose and Greece announced that it would have a primary budget surplus.

Politics

  Domestic

  International

            EU considering changing the accounting of deficits---or if you don’t like the numbers, just make up some new ones (medium):








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