Monday, January 26, 2015

Monday Morning Chartology---Greek anti austerity party wins big

The Morning Call

The Market
      Monday Morning Chartology

            Using a longer term chart smooths out the volatility.  What we see from the 10,000 foot perspective is the S&P in uptrends across all timeframe, but unable to get back to its former high.  On a very short term basis, it is in a trading range.

            Friday, TLT bounced back above the lower boundary of its very short term uptrend, negating Thursday’s break.  It remains solidly within uptrends across all the other timeframes and above the 50 day moving average.

            GLD was very busy last week technically speaking.  It re-set its short term trend from a trading range to an uptrend and its intermediate term trend from down to a trading range.  In addition, it is in a very short term uptrend, has pushed through the upper boundary of its short term uptrend and is firmly above its 50 day moving average.  As you can see, GLD started to consolidate on Friday.  If it bounces anywhere short of the lower boundary of its short term uptrend, our Portfolios will nibble on the recovery.

            The VIX moved down last week’s as stocks made some progress.  It finished the week bouncing off its 50 day moving average (eliminating a potential break) and remaining within its short term trading range and intermediate term downtrend.

            The latest from Van Hoisington (medium and a must read):

            ***overnight, the radical left anti austerity party in Greece won a near majority in the Greek parliament.  Now the fun starts.

            And this 5 minute interview with the new finance minister:

      Investing for Survival

            The problem with the lack of diversification (medium):

   News on Stocks in Our Portfolios
·         W.W. Grainger (NYSE:GWW): Q4 EPS of $2.80 misses by $0.03.
·         Revenue of $2.51B (+5.5% Y/Y) beats by $10M.


   This Week’s Data


            The dollar comeback (short):




            US boots on the ground in Ukraine? (short):

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