Monday Morning Chartology-1/28/13

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The Morning Call

1/28/13

The Market

           

    Technical

      Monday Morning Chartology

            The S&P remains on fire, having left the 1474 resistance level behind and blown through the upper boundary of its short term uptrend.

            What happens when this S&P winning streak ends (short):

            http://blog.stocktradersalmanac.com/post/SPY-Winning-Streak-Will-End

            Update on ‘the best stock indicator ever’ (short):

            http://advisorperspectives.com/dshort/guest/John-Carlucci-Best-Indicator-Ever-Update.php

            GLD is not on fire.  It does remain within its short term downtrend and intermediate term trading range and closed right on the lower boundary of a very short term uptrend.

The VIX seems to be trying to form a base in the 12-13 area.  Nonetheless, it continues well within a intermediate term downtrend---a positive for stocks.

           

           

    Fundamental

    

            On Sunday morning TV, Ryan predicts sequestration will take place (medium/long):

            http://www.zerohedge.com/news/2013-01-27/paul-ryan-says-sequester-likely-take-place

Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 40 years of investment experience includes institutional portfolio management at Scudder, Stevens and Clark and Bear Stearns. Steve's goal at Strategic Stock Investments is to help other investors build wealth and benefit from the investing lessons he learned the hard way.