The S&P continues to trade within a narrow range dating back to mid-December, but remains in uptrends across all timeframes and above its 100 and 200 day moving averages. The assumption continues to be that it will challenge 2300.
The long Treasury was down on Friday breaking its recent uptrend. However, virtually the entirety of the fixed income complex was up. It remains below its 100 and 200 day moving averages and within a very short term downtrend and a short term trading range.
The very short term rally in GLD continues. While it remains below its 100 and 200 day moving averages, it is drawing close to a challenge. It is also in a short term downtrend.
The dollar fell. It is developing a very short term downtrend; but longer term, it remains well above its 100 and 200 day moving averages and within a short term uptrend.
Friday, the VIX hit the upper boundary of a very short term downtrend and bounced down---a mild plus for stocks. It remains below its 100 and 200 day moving averages and in a short term downtrend.
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McDonald's (NYSE:MCD): Q4 EPS of $1.44 beats by $0.03.
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