Yesterday’s pin action was not good. A strong open that gets faded the remainder of the day is not a bullish pattern. That said, breadth has not weakened.
GLD broke above the upper boundary of its very short term downtrend. It is not in the clear yet but getting close.
This is a slow week for US economic data but the start of earnings season. Since some earnings weakness is expected the key will be forward guidance.
Atlanta Fed lowers first quarter GDP growth estimate to +0.1%---fifth in as many weeks.
JP Morgan chimes in raising concerns about declining profit margins (medium):
Obama’s meeting with Yellen. Think legacy. (short):
What if we get an oil production freeze?( medium):
Is China now cheating on the G20 agreement? (medium):
The Japanese endgame (medium):
Used car prices plunge (medium):
Visit Investing for Survival’s website (http://investingforsurvival.com/home) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.