Monday, September 28, 2015

Monday Morning Chartology

The Morning Call


The Market

            The battle lines for the S&P are pretty clearly marked by 1970 on the upside and the lower boundary of its intermediate term uptrend on the downside.  After trading through that lower boundary intraday and closing above it on Thursday, I thought it likely that momentum would continue higher.  It did intraday on Friday and then closed slightly lower on the day.  It now seems poised to attack the lower boundary of its intermediate term uptrend again.

            Stocks October performance (short):

            Update on the Buffett indicator (short):

            The long Treasury continued to drift within a narrow very short term trading range since the big Market sell off in late August.  It remains above its 100 day moving average (a plus) and within short and intermediate term trading ranges.  In short the directional trend at the moment is sideways.

            GLD saw some action last week (1) breaking above its 100 moving average on Thursday and then falling back and voiding that break on Friday, (2) trading above the upper boundary of its short term downtrend on Thursday and holding it on Friday; if it closes there today, the trend will re-set to a trading range.

            The VIX is currently pushing against the lower boundary of its short term uptrend.  It did manage to get below it one day last week, but reversed the next day. Since it has inched higher; basically tracking along with the aforementioned lower boundary.  In the process, it rises further above the 20 level.


            ***overnight IMF says 3.3% global growth is no longer realistic; August Chinese industrial profits fell 8.8% year over year; China’s largest miner laid off 100,000 workers; pro-independence parties won a majority of seats in the Catalonian parliament but only 48% of the vote, 50% is needed to hold a referendum.

            Nothing’s safe (short):
            The latest from Doug Kass (short):

       Investing for Survival
            How inflation impacts returns (medium):

    News on Stocks in Our Portfolios

   This Week’s Data

            August personal income rose 0.3% versus expectations of up 0.4%; personal spending was up 0.4%, in line.




Healthcare premiums (short):

  International War Against Radical Islam

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