Monday Morning Chartology
The S&P is back sniffing the upper boundary of its long term uptrend. The last two times that it has done this, it managed to spend a brief time above that boundary but could not hold there. My opinion is that it will do the same this time around; the operative words being ‘my opinion’.
The long Treasury stabilized last week, ending within a short term trading range (note it challenged the lower boundary but couldn’t confirm the break), intermediate and long term uptrends, above its 50 day moving average and a developing very short term uptrend.
GLD had a good day on Friday. That notwithstanding, it remains within a very short term downtrend, short and intermediate term trading ranges, a long term downtrend and below its 50 day moving average.
The VIX declined 7% on Friday, as would be expected on a strong up day. It remained within a very short term downtrend, short term trading range, an intermediate term downtrend, a long term trading range and below its 50 day moving average. For traders, current price levels off a cheap way to buy portfolio insurance.
A preview of what is happening today in the Greece/Troika standoff (medium):
The latest supply/demand data on oil (short):
Investing for Survival
The biggest investing mistake (short):
News on Stocks in Our Portfolios
This Week’s Data
The February Chicago National Activity Index was reported at -.11 versus expectations of +.15.
Not only is the administration disregarding the congress role in the government but is also ignoring the judiciary (short):
Income inequality and the government’s role (medium):
International War Against Radical Islam
CIA declassifies document that supposedly justified the Iraq invasion (medium):