Monday Morning Chartology
The S&P has maintained its upward momentum. It remains above its 100 day moving average and in uptrends across all timeframes; but still faces overcoming resistance at recent highs.
Friday was the first really poor day for TLT in the last couple of weeks---likely attributable to an unwinding of risk following the DOJ/Deutschebank settlement rumors. Still it ended above its 100 day moving average and within uptrends across all timeframes.
GLD closed above its 100 day moving average, two prior lows and a key Fibonacci level. However, it is holding on to a positive technical position by its fingernails. A breakdown will likely push the Aggressive Growth Portfolio out of GDX.
VIX chart is a bit confusing. It finished below its 100 day moving average and within a short term downtrend---both a plus for stocks. But it has also developed a decent very short uptrend---a negative.
About that Deutschebank/DOJ settlement---Oooops (short):
When it rains, it pours (medium):
According to JP Morgan, Deutschebank’s biggest problem isn’t funding, its derivatives (medium):
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Business investment and stock prices (medium):
***overnight, both September Chinese manufacturing and nonmanufacturing PMI’s advanced; the September EU manufacturing PMI was up
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