Monday, September 29, 2014

Monday Morning Chartology

The Morning Call

9/29/14

The Market
           
    Technical

        Monday Morning Chartology

            The S&P had a volatile week.  After a selloff in which it fell below its 50 day moving average and neared the lower boundary of its short term uptrend, it bounced nicely on Friday.  However, as you can see, for the rebound to be anything but a one day phenomena, it must dismantle the very short term downtrend that has been in effect since mid-September.



            The long Treasury has had a nice bounce, marking the lower boundary of its re-set short term trading range; and it closed Friday above its 50 day moving average.  Still it has a ways to go before re-setting to an uptrend.



            GLD continues to track within very short term, short term and intermediate term downtrends and below its 50 day moving average.  It is nearing the lower boundary of its long term trading range which it will almost surely challenge.  Whether it is successful or not is another question.



            The VIX continues to provide little guidance on Market direction.  It has started to build a very short term uptrend; but that is not going to mean a lot unless it can successfully challenge its short term downtrend.



    Fundamental
 
            The latest from Lance Roberts (medium):

            16th annual Geneva Report (medium):

        Investing for Survival

            Is there a point to hedging? (medium)
     
      News on Stocks in Our Portfolios
 
Economics

   This Week’s Data

            August personal income was reported up 0.3%, in line; personal spending was up 0.5%, also in line; the core PCE index (inflation) was up 0.1% versus expectations of 0.0%.

   Other

Politics

  Domestic

Public employee pension funds face $2 trillion funding shortfall (short):

  International War Against Radical Islam







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