Monday, January 8, 2018

Monday Morning Chartology

The Morning Call


The Market

            My usual short and sweet comment---nothing needs to be said about this chart.

            TLT traded back below the lower boundary of a very short term uptrend on Friday, but remained above both moving averages and the lower boundaries of its short term trading range and long term uptrend.  The recent pin action may be indicative that bond investors are becoming uncertain about the strength of the economy/higher inflation---though at the moment, nothing serious.

            The dollar’s chart is starting to remind me of GLD’s several months ago; which is to say lousy.  Apparently, there are few buyers based on a strong economy, higher rates or a safety trade.

            GLD continues to do well on a very short term basis, trading above both moving averages and in a very short term uptrend.  Longer term, it is in trading ranges across all timeframes.

            The VIX appears to have gone comatose as stock soar.  While it is below its 100 and 200 day moving averages and in a short term downtrend, it has held above the lower boundary of its long term trading range and really went nowhere in the midst of last week ramp up.


What I am reading today

            Is the QE party over? (medium):

            December update on dividends

            The end of the Iranian protests (medium)

            Doug Kass’s 15 predictions for 2018---Part three.

            Global debt reaches $233 trillion (medium):

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